The Ghana Investment Promotion Centre (GIPC) has held its second CEOs Breakfast Meeting for the year, with focus on the manufacturing sector.
The event availed a unique opportunity for key state and private stakeholders to delve deeper into Ghana’s manufacturing sector and its vast business potential.
It also spearheaded a discourse on the challenges of the sector, and allowed participants to exchange innovative ideas on how to advance the sector, as well as agree on some recommendations for policy formulation.
Ghana’s manufacturing sector has been a significant source of its economic growth in recent times. The sector’s progress is attributed to government’s aggressive industrialization drive, with accompanying initiatives such as; the 10-point industrial agenda, the Automotive Development Policy, One District-One Factory policy, Integrated Aluminium Industry project, and the Ghana CARES programme.
Nonetheless, the current instabilities in the global business ecosystem, due to noticeable political and health crisis, has significantly affected the manufacturing sector.
Owing to the disruption in value-chains and other industrial challenges, the CEO of GIPC, Yofi Grant said it has become more crucial to work collectively to find answers to problems besetting Ghana’s manufacturing sector.
Underscoring the role of the private sector in driving industrial growth, he noted that partnerships between government and private players, is the right step to finding the needed solutions.
He opined at the event tha: “we recognize the urgent need to embrace the private sector as partners in undertaking corrective actions, that can move the country forward”, adding that “Ghana’s business potential remain enormous, and government is committed to creating an enabling environment for all investors to fully leverage the opportunities”.
Corroborating Mr. Grant’s assertion, the Head of the One District – One Factory (1D1F) initiative at the Ministry of Trade and Industry, Kofi Addo, also noted that in as much as the current global business landscape is fraught with some challenges, the opportunities in Ghana remain endearing.
He encouraged the private sector to make optimal use of the country’s resources.
Taking his to turn to address the audience, the President of the Association of Ghana Industries (AGI), Dr. Humphrey Ayim-Darke, said the government and the private sector will have to work together in these critical times, to address the manufacturing industry’s issues.
He mentioned that, more can be done to raise the confidence level of investors in the sector.
The event further allowed for a deeper all-inclusive debate on actionable solutions for the sector. Key among the suggestions tabled include; the need for government to review the general tax regime; the need for government to deliberately target and support ailing industries; the need for stakeholders to develop the industrial value-chain from the grassroot, and the need for a review of deregulation policies.
The CEO’s Breakfast Meeting is a GIPC-initiated event, organized periodically, to bring together CEOs and business moguls, as well as government authorities, to deliberate on pertinent issues affecting business and investments in Ghana.
- Former Minister for Monitoring and Evaluation, Dr Akoto Osei dies aged 64
- 2 Ghanaian students honoured for topping West Africa in 2022 WASSCE
- Bridget Otoo’s horrifying story of how her car was nearly snatched on Tema motorway
- Interest rates on falling spree; government T-bills oversubscribed by 40%
- Police probe Prof Frimpong Boateng’s Jubilee House ‘galamsey’ allegations
- AFCON 2023Q: Chris Hughton opens Black Stars camp with 8 players
- GACL settles GH¢10m out of GH¢28m owed ECG; balance to be paid in 2-weeks
- Ofori-Atta leaves for China for crucial debt restructuring negotiations
- Avoid mass gatherings, restrict your movements to safe areas – Ghana’s Mission in SA to Ghanaians
- ECG recovers GHȼ18.5m out of ȼ46.9m from 3 state institutions
- The South African choir that performed for Queen Victoria
- Stop the arrogance, downsize your government – Fifi Kwetey tells Akufo-Addo
- Akufo-Addo’s government suffering a complete collapse of credibility – Fifi Kwetey
- Akufo-Addo’s government has been the luckiest in terms of resources, they have no excuse – Fifi Kwetey
- IMF lied about Covid-19, Ukraine war being cause of Ghana’s economic woes – Fifi Kwetey
- Akufo-Addo still in campaign mode – Fifi Kwetey
- Reset your priorities – Sammy Gyamfi tells government
- Climate-smart agricultural practices should be linked to household food security – Climate expert
- Accra Visual Arts Week is back
- Let’s generate African data to empower our AI systems – Computer scientist
- Playback: One-on-one with Fifi Kwetey on PM Express
- I won’t let politics destroy our brotherhood – Fred Nuamah on fracas with John Dumelo
- IMF Executive Board approves US$3bn under new Extended Fund Facility arrangement for Sri Lanka
- 10 enthralling reasons to tune into Joy Prime channel
- Abolish Section 27 of CAP 127 which makes Islamic marriages invalid – Dwomoh