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Remember the Mob
Prime Minister Sam MattcairnSay hisPublic-Private Dialogue (PPD)Proactivity isThis is an important mechanism to promote private sector growth and improve the business environment in Lesotho.
He said the collaborative platform would help address business challenges while being in line with government objectives.
He said this at the second meetingthisThe PPD was held at Avani Maseru this week.
PPD is a structureddialogueA framework to address the country’s shortcomings in sustainable development, quality education, and youth unemploymentetc..
The plan aims to address several pressing issues, including reversing the downward trend in investment, reducing bureaucratic barriers in the startup ecosystem, increasing government efficiency through better coordination, and improving the overall investment climate.
The project was launched in February this year by the Ministry of Trade, Industry and Business Development with support from the World Bank.
The private sector is represented by the Lesotho Chamber of Commerce (LCCI) and the Lesotho Private Sector Foundation (PSLF)Egyptplatform.
The Prime Minister reiterated the government’s commitment to improving the country’s economic performance.
Mr. Matt Kane praised the role that the business community plays in creating jobs and economic growth and acknowledged the importance of continued collaboration.
“As I mentioned at its launch in February 2024, the PPD provides a consistent platform to address policy, regulatory and implementation issues in a timely manner. Regular, informed and evidence-based dialogue is critical to our success,” said Mr Matekane.
He called on all stakeholders to use PPD as a mutually beneficial tool to balance corporate interests with the country’s broader needs, including those of workers, government agencies and society at large.
Mr. Mateken also stressed the importance of understanding the different goals and challenges of various stakeholders through the PPD. He said this would lead to the development of a well-thought-out strategy to meet community and economic needs.
“Policy development is a complex process with different impacts on all parties involved. PPD enables us to identify issues and develop policies that will truly improve Lesotho’s investment climate.”
Mr. Mateken stressed the need for continuous, interactive communication to ensure effective implementation of policy initiatives, noting that when businesses understand the rationale behind government regulations, they are more likely to comply.
“PPDs help prevent a cycle of lobbying and reform reversals by creating checks and balances and providing a comprehensive view of what’s best for the economy. Regulatory impact assessments are critical to determining the policy options that are best for our economy.”
He cited the example of a wage increase decision made without sufficient objective evaluation, which led to job losses in the textile manufacturing industry.
“Government and business must share a common vision and purpose, as reflected in our motto,“She will give birth to a female calf‘, meaning“It will produce fruitful results””
Minister of Trade, Industry and Business Development Mokhethi Shelile echoed the Prime Minister’s sentiments, expressing hope that more forums would foster a culture of collaboration, communication and shared responsibility. He identified the lack of inclusive, transparent, predictable and effective legal and regulatory processes as a significant barrier to improving the investment climate.
“While the government has made significant progress in improving the business environment, for example in the areas of business licensing, registration and infrastructure, much more needs to be done. PPD has advanced the Investment Climate Reform Agenda (ICRA), which is guided by a diagnostic assessment of Lesotho’s investment climate.
“The Investment Climate Action Plan (ICAP) outlines specific actions to support domestic and foreign investment, aligned with the Second National Strategic Development Plan (NSDP II) and global best practices,” Mr. Sheril explained.
He highlighted seven key performance areas of ICAP, including building regulatory frameworks, improving access to finance, strengthening infrastructure and trade facilitation.
Mr. Sherile urged all stakeholders to come together and work together to achieve the necessary changes in Lesotho’s investment climate, noting that global evidence showed that transparent, inclusive, predictable and effective rules and regulations drive business growth, attract investment and create jobs.
Manana Phalatse, CEO of the Millennium Challenge Corporation (MCC), spoke about the role that MCC is playing in supporting economic growth in Lesotho through the Health and Horticulture Compact signed in May 2022. She said the Compact will benefit the entire country through investments in market-driven horticulture, strengthening the business environment and improving the health system.
Ms. Parates said the Government was committed to implementing reforms to support the success of the Agreement, particularly in the areas of land and water rights, worker safety, gender equality and working conditions. She stressed that overcoming barriers to economic inclusion for women, youth and the rural poor was at the heart of the Agreement’s initiatives.
In his closing remarks, Minister of Finance and Development Planning Retšelisetsoe Matlanyane stressed the importance of cooperation in achieving Lesotho’s economic goals.
“We all want Lesotho to be better, even though we have different ideas on how to achieve that,” Dr Matlanyane said.
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