In a significant stride aimed at ensuring fair and competitive business opportunities for Liberian businesses, the Liberian Senate has directed its Committees on Concession and Investment, Lands and Mines, and Judiciary to investigate allegations that concession companies operating in Liberia are sidelining Liberian-owned businesses. The Senate’s decision followed a formal communication submitted on Tuesday, February 18, 2025, by Bomi County Senator Edwin Melvin Snowe. In his communication, Senator Snowe urged the Senate to probe claims that foreign concessionaires are engaging in business activities beyond their primary mandates, thereby sidelining Liberian entrepreneurs. Snowe highlighted that despite legal provisions enshrined in concession agreements, there is a growing trend of disenfranchisement of Liberian businesses, weakening their role in the national economy. “As stipulated in our concession agreements, these companies should focus solely on their primary operations. However, many have ventured into sectors that Liberians are fully capable of managing, thereby denying our people vital economic opportunities,” he stated. The senator, who also chairs the Senate Committee on Hydrocarbon, Energy, and Environment, cited Bi-Chico Mining Company in Gbarpolu County as a key example and alleged that in addition to its core mining operations, Bi-Chico has extended its services to include trucking iron ore, a contract, he believes should be reserved for Liberian trucking companies, under the Liberalization policy. “Trucking iron ore is a business that could be effectively managed by Liberian-owned enterprises, fostering the growth of a middle-class economy and creating jobs,” Snowe emphasized. Similarly, he pointed to Bea Mountain Mining Company in Grand Cape Mount County, which, apart from operating its own petroleum storage tanks and importing thousands of metric tons of petroleum products, has also entered the transportation and mineral water production industries. “These activities place local businesses at a competitive disadvantage, directly violating the core objectives of the Liberalization Policy, which seeks to empower Liberian entrepreneurs,” he argued. Snowe warned that if these practices are left unchecked, they will continue to sideline Liberian business owners, suffocate economic growth, and prevent local enterprises from thriving. “It is alarming to see these companies controlling essential service industries as if no Liberian-owned business can execute these tasks. This trend, if not addressed, will marginalize our entrepreneurs, weaken local enterprise development, and hinder national economic progress,” he cautioned. Source: LINA