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.