Chamber of Commerce Hails Ministerial White Paper

	Chamber of Commerce Hails Ministerial White Paper
	The Lesotho Chamber of Commerce and Industry (LCCI) has hailed a Ministry of Trade and Industry White Paper on the development and promotion of small businesses as a milestone in efforts to empower the private sector. LCCI Deputy President, Mr Koena Phafane, has described the paper as a giant step towards addressing challenges facing small and medium enterprises. Hopefully the document will, once it become law, create an environment conducive the the growth of existing businesses and the emergence of new ones, he said. This is imperative because small and medium businesses, as creators of wealth, have proved to have the capacity to make a significant contribution to the country's economic growth. Outlining some of the problems facing the private sector, Mr Phafane said policies should ensure that it is cost-effective to do business by eliminating bureaucratic hurdles associated with starting a business. The country's fiscal policy also needs to be revisited, as it does not encourage the growth of businesses. The main emphasis of this policy framework, according to the Ministry of Trade and Industry's chief economic planner, Mr Phera Lepati, is on deregulation and private sector development which have been found to be key to small businesses' growth and development. The White Paper spells out details of an appropriate enabling environment for economic growth in Lesotho, including its regulatory, legislative and institutional aspects, while laying out the implementation strategy of the government, he said. 04 February 2005
	source: LENA