Enhancing capacity of local firms

Such an initiative, he said, would contribute towards ensuring that local content permeated all aspects of the economy, instead of the current situation where it appeared that the interest of the state was confined to the oil and gas sector alone.

The truth of the matter is that laws on local content are scattered in various statutes and are unknown to the people. had it not been for the recent controversy over the taking over of the local retail market by foreigners, notably Chinese traders, many people would not have known that foreigners could not enter the retail trade.

 Apart from the retail sector, other laws exist in the mining sector which prohibit foreigners from engaging in small-scale mining, populary called galamsey. Even here, some foreigners have entered the fray.

Indeed, the economic growth and development of every country hinges on its citizens and how empowered they are, both financially and skills acquisition wise.

We believe that for this policy to be effective and workable, it requires that the legal framework that exists is made workable and enforceable, such that they are made to bite.

Ghanaians should also be supported to embark on business drives, otherwise they will always front for foreigners who eventually remit all profits back to their home countries.

The Daily Graphic wishes that since what is good for the goose is equally good for the gander, Ghanaian entrepreneurs or business people should be seen to offer good quality products comparable to those provided by their foreign counterparts.

This is imperative because the experience has been that projects handled by local companies lack the finesse and standards, little wonder they do not win tenders for local jobs.

A fine opportunity is thus offered for the various institutions to compare notes as far as local content development is concerned and through that way they can help  address some of the misconceptions about local companies.

We urge the government to also come up with  fiscal policies to boost and encourage local companies to make them competitive on the global market.

When that is done, the Daily Graphic believes the stage will be set for local content development to firmly enhance the capacity of local companies and the skills of our human capital.