The Ghana Real Estate Developers Association (GREDA) says the passage of the Construction Industry Development Authority, (CIDA) bill, will ensure transparency in the construction industry and clear the industry of unprofessionalism.
Executive Director of GREDA, Samuel Amegayibor told Joy Business, that the coming into force of the CIDA bill will also attract investors to invest in a well-coordinated industry.
“When we all know what goes into the industry, who plays what, whose responsibility is what, when you even have a grievance and you know where to go and seek redress, it brings transparency.
"And when there’s transparency and there is that protection of interest, then you can talk about attracting investment into the industry as well.
“So when people want to put their money into the sector, they are informed and are guided by the principles that pertain in that industry. And this can increase the confidence of the investor especially when there is a regulator,” he stated.
Also, Mr. Amegayibor further indicated that the bill when passed, will ensure adjudication and faster resolution of issues in the construction industry.
“When there are rules and regulations by all players involved in the sector, it makes it easier for faster resolution and adjudication of dispute when they arise.
"Because there are clear cut rules and regulations that all players must abreast themselves with. So when you [construction players] fault in any of them, it is very easy for references to be made,” he added.
Since 2018, Parliament has been urged to pass the CIDA bill to ensure the sanitization of the construction industry and make all professionals in the industry accountable by of getting rid of sub-standard individuals posing as contractors.
Latest Stories
-
Access Bank partners Horseman Shoes to boost local shoe manufacturing industry
5 mins -
Election 2024: Don’t vote for candidates making empty promises – CDD to Ghanaians
10 mins -
IGP shares Easter safety tips on Adom FM’s ‘Ofie Kwanso’
36 mins -
Ebo Whyte offers fully-funded trip as he unveils new play ‘Dubai or No Sex’
47 mins -
Ancient culture of Anlo Kingdom: Exploring “Torkor Atorlia,” the fifth landing stage’s old ways of punishment
1 hour -
Leaders from Saudi Arabia, Turkey, Botswana, Cameroon and Sierra Leone to lead discussions at Africa Finance Corporation’s (AFC) 4th Country & Stakeholder Symposium
2 hours -
Network International Delivers Strong 2023 Revenue growth at 15% y/y and free cashflow growth of 16% y/y
2 hours -
President Akufo-Addo extends Easter Greetings to Ghanaians, urges safe drive
2 hours -
Government pushes for use of more local materials in housing, other infrastructure projects
2 hours -
Dr Bawumia extends Easter greetings to Christians
2 hours -
CAF Confederation Cup: ‘Ghanaians should expect victory against Stade Malien’ – Dreams FC forward Ishmael Dede
3 hours -
CAF Confederation Cup: ‘We want to go there and win’ – Karim Zito on Stade Malian clash
3 hours -
Togbe Adzie Lãkle Howusu XII endorses youth leadership as New Force Movement gains momentum
4 hours -
Public Utility Workers Union appeals to PURC to address power crisis
4 hours -
Anbariya loses another appeal in Kumasi as Appeal Court ratifies High Court ruling against the Islamic Institute
5 hours