Trade Minister instigates institutional reforms
Minister of Trade and Industry has spoken about the various institutional reforms his ministry has embarked on to ensure effective delivery of service.
Dr. Edward Hinga Sandy told a presser that the new structures will speak to the needs of the country as ministry position itself to harness opportunities across the globe in order to grow the economy.
“One of the biggest projects the Ministry is working on along with the Ministry of Finance is the implementation of a National Micro Credit Scheme that will provide funds for small businesses,” he said.
He stated that in collaboration with the Ministry of Finance and the Bank of Sierra Leone, they have been able to secure essential commodities by offering a five hundred billion Leones credit facility to importers.
According to him, such a move has ensured the availability of rice up to the end of the year with more importation expected to meet the needs in 2021 despite the Coronavirus crisis.
He assured of the availability of enough petroleum products in the country, and spoke about the introduction of a new player in the petroleum sector, who will be bringing in petroleum products, thereby creating jobs and generating revenue for the country.
He informed journalists that Sierra Leone has joined two huge marketing opportunities - the ECOWAS Trade Liberalization Scheme that allows companies within West Africa to trade with businesses in the sub-region and the Continental Free Trade Agreement that has already been ratified.
He disclosed that they have registered thirty one companies that are producing in Sierra Leone and exporting to other countries.
According to the Trade Minister, a number of industry policies are currently under review, noting that the ongoing reforms will attract more investments in the country.
Dr. Sandy assured that the Koindu Market which links Sierra Leone, Liberia and Guinea will be revitalized.