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President Akufo-Addo Reiterates Gov’t Commitment To A Self- Reliant Economy

President Nana Addo Dankwa Akufo-Addo, has indicated his government’s commitment to making Ghana a self-reliant country insulated from freebies the West.

He reiterated that he would build the economy to properly manage and utilize local resources for social and economic growth.

Interacting with the Ghanaian community in Geneva where he is participating in the ongoing 5th Africa CEO Forum, he urged them to come onboard to support the transformation he envisages for Ghana.

He assured them of government’s determination to invigorate the private sector and ensure a reduction in the country’s fiscal deficit from 9% to 6% this year.

He disclosed that the government was putting in place a number of strategies to create the enabling environment for businesses. “We have decided that it is important to provide stimulus to the tune of US$100 million to local industry that are in distressed state, and to assist new companies to grow in the country,” he said.

The NPP government, he said, will address the challenges in the agricultural sector as part of measures to revamp the economy, calling on business owners to support him make that happen.

He reaffirmed that Ghana is open for business, stressing that the creation of a conducive business environment will ensure that their businesses flourish, thereby creating prosperity for the Ghanaian people.

According to him, the private sector has suffered a number challenges including, lack of access to credit, high interest rates, erratic power supply and a generally bad business climate, but his government is seeking to reverse the development.

“Our first budget outlines some fairly radical new measures. A lot of the taxes that were brought up, in the period where our deficit was growing, have either been reduced or abolished. We have taken off as much as GH¢1 billion in taxes out of the revenue net for the doing of business in Ghana, with the commitment of doing more” he announced, adding that, “if the country is to make any meaningful change in the lives of the people, our efforts must be directed at this sector. The majority of people can only feel a change in their lives when we develop agriculture.”

For his part, the Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, who is also with the President in Switzerland, said that government is introducing some reforms needed to make Ghana attractive for investment. He said, “The sentiment of the party out of which his government is borne is instinctively to look for private sector solutions to the economic issues in our country.”

He called on Ghanaian businesses abroad to look to Ghana as a place to do business.

SOURCE: Citifmonline

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