The Bureau of State Enterprises (BSE) is poised to hold a high-level stakeholder dialogue with State-Owned Enterprises (SOEs), to enhance the operational efficiency and accountability of all government’s SOEs.
The gathering, which is expected to be in Ganta, Nimba County, from Wednesday, May 7-10, 2025, will be held under the theme: “Governance and Domestic Resource Mobilization.”
In a release issued yesterday, May 5, 2025, the BSE management said the engagement is intended to hold a dialogue on the many governance and oversight challenges across SOEs and exchange ideas on how the challenges can be addressed.
According to the statement, stakeholder engagement is also part of the efforts of the government to address inefficiency and ineffectiveness in SOEs to improve the contributions of SOEs to domestic resource mobilization.
The release also pointed out that emphasis will also be placed on SOEs’ compliance with the requirements of the Restated Public Financial Management (PFM) Act of 2019, and mitigating potential risks associated with noncompliance of the participating SOEs.
Throughout the sessions, the release added that participants will receive detailed presentations on BSE’s role in government operations, key statutory obligations of SOEs, and challenges with financial planning and reporting.
The release furthered that in collaboration with the Liberia Revenue Authority (LRA), the Tax Clinic component will provide training and guidance on tax responsibilities, including Personal Income Tax, Withholding Taxes, Goods and Services Tax (GST), and the use of the Liberia Integrated Tax Administration System (LITAS).
“The final day of the program will emphasize international financial reporting standards and present an overview of planned reforms by the BSE aimed at revitalizing the SOE sector.
This dialogue underscores the government’s commitment to fostering efficiency, transparency, and financial accountability in public enterprises,” the release added.
Meanwhile, the BSE, established to oversee and manage the performance of SOEs, has been working diligently to implement reforms aimed at improving governance and operational efficiency since the inception of this administration.
With a focus on transparency, accountability, and sustainable development, the event is expected to further create a roadmap for the future of these enterprises, which play a crucial role in Liberia’s economy.
As the country continues to recover from years of conflict and economic challenges, the successful reform of SOEs could play a pivotal role in driving sustainable development and improving the livelihoods of Liberians.
With a renewed focus and commitment, the country’s state-owned enterprises may soon become a cornerstone of the nation’s economic resurgence as a result of the tireless efforts of the current leadership of the SOE regulatory body, BSE.
