Independent Secretariat to address private-sector challenges in offing
An Independent Secretariat is to be established to chronicle the challenges of the private sector and develop actionable policy document to address them.
The establishment of the Secretariat, which is under Ghana Mutual Prosperity Partnership (GMPP), will have representation from both the public and private sectors.
The Minister of Finance, Ken Ofori-Atta, disclosed this in Accra on Friday, during the maiden GMPP meeting with Chinese businesses in Ghana.
The Finance Minister explained that the GMPP formed part of a process of a targeted engagement with businesses that will be at the forefront of championing Ghana’s economic recovery.
According to him, the deliberations of the Independent Secretariat would focus on the development of actions document which would be published.
“The secretariat will also work with industry associations to develop medium to long-term plans that addresses critical issues in the private sector,” Mr Ofori-Atta stated.
He disclosed that the ministerial steering committee for GMPP would be launched in the coming weeks, and modalities for the secretariat and the working group would be concluded.
Mr Ofori-Atta assured the citizens that the conversations of GMPP would be carried out through the year as continuous efforts in order to reform the business environment.
He said the implementation of the GMPP would be different from similar initiatives which had been carried out in the past, hence the establishment of the Secretariat.
He stated that the government decided to host the Chinese businesses because China was an important market to Ghana.
He also said Ghana had forged a six-decade relationship which still stood immense potential for further cooperation.
“So today we gather to work out how we can create the harmony that causes your businesses to invest grow and succeed in Ghana,” the Finance Minister said.
Mr Ofori-Atta said Chinese Foreign Direct Investment to the country as of the end of 2022 stood at $1.1 billion and Ghana was the largest buyer of Chinese goods estimated at $7.9 billion and that showed both countries share common priorities on trade and investment.
“Our nations have worked together in good and hard times and provided a source of strength for each other,” Mr Ofori-Atta stated.
He said China co-chaired Ghana’s Official Creditor Committee and showed true leadership and supported the country’s bid to restructure its debts.
Mr Ofori-Atta said the government wanted to use the GMPP platform to tease out the problems Chinese businesses face in the country and equip them for the challenges of the future and increase Ghana’s attractiveness as a base for Chinese businesses on the continent.
“With Ghana’s economic recovery in full swing, we need to build on the progress we have made, it’s hugely important to use that to underpin our future growth on the success of Chinese businesses that are either looking to enter Ghana or expand their footprint across the country, “ Mr Ofori-Atta stated.
The Finance Minister said Ghana and Chinese companies should work together to advance mutual interest of the two countries.
He again mentioned that the Ghana Investment Promotion Centre was developing an investment code to expand incentives that remained predictable, and favourable environment for investment
BY KINGSLEY ASARE
