Audio By Carbonatix
The government has served notice it will not yield to demands from indigenous businesses that it protects them from the effects of heightened competition arising from the activities of foreign companies and/or substitutes imported into the country.
Rather, it has advised them to endeavour to offer their best to enable them withstand the competition or at best, undo it.
The Minister at the Presidency in-charge of Private Sector Development, Mr Rashid Pelpuo, gave the hint at the Ghana Competitiveness Round Table in Accra.
The roundtable was organised by the Association of Ghana Industries (AGI) and the Business Council for International Understanding (BCIU), a USA-based institution that assists businesses to build capacity and be competitive in their operations, for members of the two institutions to dialogue on how to improve competitiveness among local businesses.
While stressing the government’s resolve to support indigenous businesses to grow, the minister said, “you would have to keep growing yourselves rather than asking government to make laws that will protect you from foreign companies.”
“We are not going to support local businesses by making laws that will favour you and restrict foreign companies from competing,” Mr Pelpuo, who is also the NDC MP for Wa Central, said at the function.
The President of AGI, Nana Owusu Afari, however, disagreed, explaining that local businesses ought to be assisted by the government to enable them to build the necessary expertise and capacity needed to compete with their foreign counterparts.
Nana Afari said in an interview that leaving local businesses, which were often small in size and limited in expertise, to compete with multinationals will be unfair as it immediately puts them (the locals) at a disadvantage.
“What we are asking for is capacity building not for the government to protect us from competition.”
“Ghana is a developing country and we know it’s good to open our doors to investments but in doing that you have to be sure your own people are well equipped to withstand the competition that the foreigners bring.”
“If we are not well positioned to compete — capacity and expertise not enhanced —then we are automatically disadvantaged and unless you are able to address all these, then you cannot say that protectionism will not be an issue,” Nana Afari told the Daily Graphic.
Indigenous businesses have, for long, chided the government for failing to help them out of intense competition emanating from the influx of foreign companies and/or substitutes, some of which are often described as substandard , into the country.
Such occurrences, they often say, are inimical to their individual growth and, by extension, the overall growth of the industrial sector of the economy.
The Minister in-charge of Private Sector Development, however, explained that such thoughts needed to be shelved to enable local businesses concentrate on growing themselves for the competition ahead.
“You don’t look up to the government to protect you from competition, that is not fair and the government doesn't intend to do that,” he said.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Vice President launches Mfantsipim’s 150 years of shaping Ghana’s greatest mind
7 minutes -
I assure Otumfuo, Mahama will join him to commission KNUST Teaching Hospital by end of this year – Haruna Iddrisu
49 minutes -
Gov’t to roll out free special education for persons with disabilities from July 1 – Education Minister
1 hour -
“We used it to test our officiating officials’ readiness” – Bawah Fuseini after CAA Athletics event
2 hours -
Volleyball emerges as Ghana’s fastest rising sport
2 hours -
National Sports Fund needs strong leadership from the top – Administrator David Wuaku
2 hours -
JoySports Exclusive: Steve McLaren in talks with GFA after expressing interest in Black Stars job
2 hours -
Fire guts auto parts warehouse at Bubuashie, one fire officer injured
2 hours -
I owe my victory to coach Ofori Asare – Allotey after winning WBA Africa Gold Super Flyweight belt
2 hours -
Church of Pentecost supports over 2,000 BECE candidates in Obuasi with career guidance seminar
4 hours -
Brandon Asante and Coventry all but promoted to Premier League despite Sheffield Wednesday draw
4 hours -
GPL 2025/26: Late Kwartemaa strike downs Hearts in Tema
4 hours -
Ghana Faces Sierra Leone Moment as Prosecutorial Powers come under strain
5 hours -
Don’t consume fish or seafood from Tema Shipyard until further notice – FDA warns
5 hours -
Why volunteering might be Africa’s most underrated career accelerator
5 hours