Business News of 2014-01-10

Businesses urged to be innovative

The Minister of Trade and Industry, Mr Haruna Iddrisu, has challenged the business community in Ghana to continuously strive to be innovative in order to remain competitive on the global market.

This, he said, must stem from adopting new and efficient ways of carrying out their business activities, in a bid to reduce their operational inefficiencies.

“The Government is aware of the constraints that beset the private sector in their efforts to excel and beat competition but I hope the business community in Ghana is also thinking seriously of how to become more competitive by reducing its inefficiencies,” he said.

This was contained in a speech read on his behalf by the Deputy Minister of Trade and Industry, Nii Lante Vanderpuije, at the 39th annual general meeting (AGM) of the Ghana Chamber of Commerce and Industry (GCCI) in Accra.

The GCCI is an association of business operators, firms and industries set up to promote commercial and industrial interests in Ghana.

Mr Iddrisu further reiterated the government’s support for the private sector through policies to ensure that the sector operated efficiently, effectively and profitably.

The President of the GCCI, Dr Seth Adjei Baah, giving an account of his stewardship as President of the chamber, said there had been positive transformation in the operations of the chamber which had resulted in the inauguration of the Tarkwa Chamber of Commerce.

The Ghana Chamber of Commerce and industry, he said, in 2012 signed a memorandum of understanding (MoU) with the Ankara Chamber of Industry (ASO) of Turkey for the establishment of Industrial zones in Ghana to serve as a hub for both foreign and local entrepreneurs.

The Minister for Private Sector Development and Public-Private Partnerships, Mr Rashid Pelpuo, commended the chamber for its effective leadership as a prosperous private sector meant employment generation, wealth creation and, most importantly, inclusive growth

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