The Association of Ghana Industries has called on the government to focus its discussions with the International Monetary Fund (IMF) on the industrial and agricultural sectors to hasten the recovery of the economy on a more sustainable basis.
Dr Humphrey Ayim-Darke, the President of AGI, who made the call, said Ghana’s economy is struggling because of the heavy dependence on imports and, therefore, investments in the productive sectors to provide the country’s essential needs were imperative for the structural transformation of the economy.
He lauded the government’s effort to restore macroeconomic stability and called for more engagement on ways to bring relief to businesses.
He was speaking during the launch of the 5th Ghana Industrial Summit and Exhibition, which is scheduled for August 16 to 18 on the theme: “Investing in Ghanaian industries to leverage opportunities in the single African market.”
The AGI has been organising the summit since 2017 with the aim to provide a supportive and competitive business climate, which will make Ghanaian businesses locally and internationally competitive.
Mr Ayim-Darke said the Summit, among others, aimed to create a global platform for industries to share ideas on innovation and technology to enhance industrialization, to establish and encourage networking between the industrialists and their international counterparts for knowledge and to engage key government agencies in a constructive dialogue in search of viable solutions to challenges facing the industry.
He said the 2022 summit would create an ecosystem for equity investors to engage with businesses in the region to create prospects for companies in the agribusiness and processing sectors huge investments in these sectors.
Dr Ayim-Darke said would bring all stakeholders to have a balanced discussion with the objective of increasing investments in the agribusiness, processing in general and manufacturing sectors of the economy.
The exhibition brings together an array of businesses spread across cosmetics, food and beverages, household items, Electrical and cables and appliances, products industries, medical facilities, textiles, and construction, among others.
Mr Massimo Mina, Head of Cooperation EU Delegation, said they were happy to partner with the AGI to contribute to Ghana’s economic transformation and industrialization agenda.
He said the summit and exhibition would allow us to discuss the opportunities and challenges related to aiding and enabling the business environment and investment climate in Ghana.
He said a stable and predictable investment climate was crucial for investors to look favourably towards a destination and it was important for Ghana to see the great opportunities under the African continental free trade area and the Economic Partnership Agreement with the European Union.
“The European Union continues to be active in the private sector development in Ghana and the Ghana industrial summit and exhibition is a favourite illustration of this,” Mr Mina added.