Dr. Kofi Konadu Apraku, Former minister of Trade and Industry
A former minister of Trade and Industry in the erstwhile Kufour administration, Dr. Kofi Konadu Apraku has said, it will not take magic to create jobs for the unemployed in this country but, good policies.
According to him, it will take a competent government with a vision to help local industry thrive and the mandate to ensure that, is with the opposition New Patriotic Party (NPP).
The former presidential hopeful was speaking in an interview with Rainbow Radio's Kwame Tutu on Frontline.
Dr. Apraku said, when businesses thrive, more jobs are created and the state is able to generate more revenue through taxes.
"Creating jobs for the unemployed is not magic but it takes better policies by a competent government... And for that to happen we have to formalise and stabilise the economy. Our economic condition today, is nothing to write home about. We have to take our time and ensure that our economy is stabilized, to create an enabling environment for businesses to thrive by giving them incentives. We have to reduce taxes for the business community. We have promise to do that, and we will not backtrack on that promise."
He explained that during the era of President Kufour, businesses were able to grow and expand because of the reduction in corporate income tax. Dr. Apraku said they reduced the corporate tax from 35 to 25 percent. However, the current administration failed to reduce it further.
He restated, an NPP government will reduce the corporate tax by 5% to enable businesses expand and invest in other ventures.
He maintained that the NPP when elected, will set up of an Industrial Development Fund, to support critical private sector industrial initiatives, as one of the means to tackling the rising unemployment levels.
The former minister took a swipe at those who have consistently questioned where the NPP were going to get the money to deliver on their promises, adding that, the money to work out these promises is in this country.
If Ghana will develop, every single Ghanaian has a responsibility including government, businesses and citizens, he added. He stressed that, the cost of doing business in Ghana is too high and does not allow profit and that is what our focus needs to be, by transforming and formalising the economy for growth, he said.
Dr. Konadu Apraku was responding to the meeting the presidential candidate of the party, Nana Akufo Addo had with the Association of Ghanaian Industries (AGI) yesterday, [Wednesday].
He indicated that the members of AGI raised a number of concerns including a review of country's company's l code which was done in 1963.
The NPP as part of efforts to improve industrial activity in Ghana will facilitate access to dedicated land spaces in every region for the establishment of multi-purpose industrial parks.
We will also develop vibrant commercial zones in border towns in Ghana, and work jointly with our neighbouring countries on developing industrial activities, which will create jobs and promote efforts towards stronger economic integration in the ECOWAS region.
