“Sierra Leone has to do extra well to attract quality investment…” Trade Minister asserts
The Minister of Trade & Industry, Alhaji Usman Boie Kamara, has informed Sierra Leoneans that his ministry is presently engaged in reforming the business environment in the country.
Addressing journalists Thursday at the weekly press briefing at the Conference Hall of the Ministry of Information & Communications at the Youyi Building in Freetown, the minister stated that about 50% of foreign direct investment in sub-Sahara Africa goes to South Africa.
’”Sierra Leone has to do well to attract not only any type of investment, but quality speculations that will improve the lives of the people,” he stressed.
He disclosed that his ministry has made tremendous progress in the world ranking of the economy, maintaining that his ministry aims to ensure that Sierra Leone ranks within the first 100 world economies in the next three years. He however opined that to achieve this objective, there is a need for business people in the country to make progress in improving their ventures.
In her remarks, the Administrator & Register General, Madam Mariama Seray Kallay, maintained that a well functioning and modern registration business is an important regulatory requirement for any economy to move forward.
She explained that in 2009 a project proposal was created for the establishment of a ‘One Stop Shop’ which brought the three offices together, namely, the Office of the Administrator & Register General, the National Revenue Authority, and the Freetown City Council. She noted that this new system seriously reduced costs and work procedure and enhanced the registration process.
The Register General maintained that last year they had a major reformation funded by ICF and the Government of Sierra Leone. She also revealed that last year her office created a website and has automated business records which made it possible to make name searches and registration online. She further stated that they have simplified the combined application with VPN satellite connectivity to Makeni, Kenema, and Bo, which makes it possible to access records from each of those offices online.
By Abdulai Mento Kamara and Samuel M. Bangura
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