Business News of 2014-05-16

Participants hail national economic forum

Participants at the three-day National Economic Forum held in Senchi in the Eastern Region, have expressed optimism that the exercise will bring transformation in the Ghanaian economy if implemented.

Expressing their views after a closing ceremony, Thursday, the participants noted that deliberations that went on at the forum were insightful and fruitful.

Speaking to Joy News, Executive Director of IMANI, Ghana, Frankline Cudjoe, noted that his expectations were met by the decision emanating from the forum, adding, "I expect that the original language would have been a bit stronger".

The Secretary General of the Trades Union Congress (TUC), Kofi Asamoah was certain that the forum will afford labour to the avenue ensure that productivity is adhere to in salvaging the economy.

On his part, the President of the Association of Ghana Industries (AGI), James Asare Adjei indicated that the the forum has re-echoed and emphasized the need to grow the private sector.

"The forum has provided a good [avenue for consensus building in developing the country]", he asserted.

President of Ashesi, Patrick Awuah noted that the "event is more effective than inclusive", adding that participants at the forum are determined to solve the economic problems of the country.

On her part, Gender and Social Protection Minister, Nana Oye Lithur says the forum sets the agenda for women involvement in medium and private sector development, which is very critical for the development of women in the country.

"I am more satisfied and I think it is a good start", former finance minister, Prof. Kwesi Botchway intimated.

According to him, the inability of successive governments to continue with government policies is derailing the country's development, noting that the exercise will help institutionalize the forum in order that successive governments will follow the same economic policies towards national development.

The forum, which begun on Tuesday, May 13, 2014 was aimed at achieving consensus on policies, strategies and measures to accelerate Ghana's transition from a lower middle income nation to an upper middle income economy.

The non-partisan forum on the theme "Changing the Narrative: Building a National Consensus for Economic and Social Transformation" brought together former finance ministers, former Governors of the Bank of Ghana, eminent economists, political parties and parliamentarians and business leaders.

Participants also include economic policy makers, as well as representatives of traders associations, development and social partners, civil society organizations, members of academia and senior citizens.

The three-day event also harnessed ideas for a "sustainable path of development that guarantees improvements in the quality of life for all Ghanaians".

It is further expected that the forum institutionalizes a regular consultative machinery that promotes economic dialogue between the public sector and social partners in order to develop common national positions on critical economic policy issues.

Participants at the National forum arrived at a-22-point consensus expected to enhance the Ghanaian economy.

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