Industries urged to introduce sustainable policies to aid planning
The Association of Ghana Industries, AGI, is demanding sustainable macro-economic policies to favour the growth of businesses.
According to the AGI, policies that transcend into the long term will help its members and investors alike, plan and strategize for growth.
“AGI thinks that it’s a welcoming development and we are looking forward to the sustainability of such macroeconomic stability. What is important for industry is to see that level of macroeconomic stability so that we can plan,” President of AGI, James Asare Adjei stated.
He added, “Industry actually works on medium to long term such that you should be able to project beyond six months into one year to be able to put programs and activities together to support production, to expand your market to make sure that at least you can grow whatever business you find yourself in.”
The appeal by the industries also comes after a new World Bank report which states that Ghana has improved in terms of ease of doing business in Africa.
The report which studied 190 economies indicated that Ghana has inched up by three points; from 111th position in 2016 to 108th position in 2017.
Some of the indicators that Ghana had performed better over the period were; getting electricity, trading across borders as well as resolving insolvency.
Ghana ranked 2, 13 and 3 points higher in all the three indicators respectively.
However, the country’s rank for other indicators declined within the period under study.
These included; starting a business, dealing with construction permits as well as registering properties.
Yet others are; getting credit, protecting minority investors and paying taxes enforcing contracts.
Moreover while doing business reform has made it easier for trade liberalization in Ghana, similar reforms in starting a business and dealing with construction permits, have rather made it more difficult to do business.