Trade Minister woos investors, devt partners
The Minister of Trade and Industry, Mr Alan Kyerematen, has met with private sector development partners to seek their support towards the implementation of the trade policies and industrialisation agenda of the government.
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Mr Kyerematen said the transformation agenda of the Akufo-Addo administration was, among others, anchored in pursuing aggressive industrialisation and value addition to agricultural produce, providing tax and related incentives for manufacturing businesses, providing a reliable and cost-effective mix of energy supply for businesses and pursuing policies that would reduce interest rates.
The minister explained that the major preoccupation of the ministry was to work assiduously to fulfil the campaign promises outlined in the manifesto of the governing New Patriotic Party (NPP) and ensure that the promises were translated into massive employment opportunities, especially for the youth of Ghana.
Cooperation
Mr Kyerematen expressed the willingness of the ministry to work with the development partners in that regard and was hopeful that they would cooperate with him to provide the much-needed support to achieve the broad objectives of the government.
Recounting his experiences and the support he received from the private sector development partners between 2003 and 2007, Mr Kyerematen outlined the current government’s road map towards achieving the agenda for job creation.
The road map has eight thematic pillars designed to strengthen Ghana’s export trade development and domestic trade and consumption. The strategic pillars are building the competitiveness of existing industries through stimulus package, the one-district-one factory initiative, development of strategic anchor industries, establishment of multipurpose industrial parks in all regions, development of small and medium-scale enterprises, linking large-scale industries to SMEs through industrial sub-contracting exchange, business environment and regulatory reforms, as well as institutionalising public-private sector dialogue.
Mr Kyerematen said the government would facilitate the implementation of those programmes by providing the necessary tactical and technical assistance to both local and international investors to take advantage of the new dawn of golden age of business.
Ready to cooperate
Responding, Mr Lasse Möller of DANIDA and a Co-Chair of the Private Sector Development Donor Partners Group expressed the commitment of the donor partners to work closely with the ministry to revive the private sector development support programme.
He said the group was excited to have Mr Kyerematen back as Ghana’s Trade and Industry Minister since evidence showed that it was during his tenure as the minister that Ghana performed well in many global benchmarks, including the World Bank’s Ease of Doing Business.
Mr Möller underscored the need for better coordination among key government functionaries on critical issues to ensure the successful implementation of the ambitious programmes outlined by the minister.
He further advised the new government to continue Ghana’s commitment to good governance as manifested in the peaceful transition of power recently and ensure efficient management of the macroeconomic environment.
He assured the minister of the group’s commitment to Ghana’s development and promised full co-operation between the partners and the government.
In attendance were representatives from The Netherlands and Swiss Embassies, International Finance Corporation (IFC), the European Union, BUSAC Fund, DFID, Embassy of Norway, African Development Bank, the World Bank, USAID, Agence Francaise d’Development (AFD), DANIDA, United States (US) Embassy, Italian Embassy and officials from the Ministry of Trade and Industry.