Business News of 2014-05-28

‘Fix Economy with good leadership projection’

K. Jeeva Saga, Indian High Commissioner to Ghana, has noted that even though Ghana has the resources, mature democratic institutions and people, the country is lagging behind in terms of development.

Mr Saga, who was speaking at the 6th Graduate School Prestigious Lecture of the Ghana Technology University College (GTUC), said the quest to fix the economy would require good leadership projection into the future and long-term educational policies with focus on primary and tertiary education.

He also noted that Ghana needed to exploit the “positives of colonialism and take advantage of its fine human and vast natural resources” to take a better place on the development ladder.

Additionally, he called on duty bearers to put great emphasis on education, capacity building, as well as research and development for a successful economy.

Narrating the story of India, he said India developed its economy without privatization.

Rather, India’s Government moved into a mixed economy and then began to privatise slowly and finally withdrew from the public sector to allow the private sector to take over.

The University College established the Graduate School Prestigious Lecture to bring together industry players and people in academia to interact with students on pertinent national development issues.

He further suggested that Ghana must nurture and use the positives of colonialism such as the rule of law, structure of governance and culture for its advantage.

He said Ghana must adopt strong social ethical standards and value systems guided by basic respect for age, experience and discipline to drive the economy.

He gave the assurance that India would continue to pursue south-south cooperation with Africa and Ghana to ensure food security, employment generation, as well as peace and security.

Source: Daily Guide
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