Entrepreneurs get national recognition

Accra, April 26, GNA - Mr Allan Kyerematen, Minister of Trade and Industry on Wednesday said entrepreneurs and industrialists would be rewarded for excellence by the end of the year.

He said, "there is the need for formal national high profile recognition for entrepreneurs just as farmers, teachers and nurses for their contribution to the growth of the economy."

Mr Kyerematen, speaking at the 36th Annual General Meeting of the Ghana National Chamber of Commerce and Industry (GNCCI) commended the efforts of the private sector and the Chamber for promoting trade and investment opportunities for their members.

"Chambers of Commerce, by tradition are strongly involved in trade promotion activities which are of special importance to medium and small scale businesses less equipped to handle foreign trade activities". "Government has taken a bold and pragmatic measure over the past five years which have significantly transformed the economic landscape through a comprehensive infrastructural improvement programme..." he said.

The Minister urged the business community to understand the time framework within which progress could be achieved and noted that no country could achieve complete economic stability within five years, "we need to attain macro economic stability, good governance and infrastructural development".

He noted that for Ghana to achieve its national goal of becoming a middle-income country with a per capita income of $1000 by 2015 it was imperative to build the capacity of the Small and Medium Enterprises (SME) to enable them to realize their full potential for job creation and wealth generation.

Mr Kyerematen announced a recently concluded 45 million dollar support fund for micro, small and medium enterprises to be launched soon and urged businesses to take advantage of it when it start functioning. He said the Ghana Trade Policy was being implemented by the sector ministry through the trade sector support programme to enhance the competitiveness of business by establishing business development authority and specialized technology centres to provide support for SME's

The Minister also announced a comprehensive programme to promote made-in-Ghana goods and said a national product gallery to showcase locally produced goods through a website was being set up. Mr Kyerematen advocated for more production of goods in the country rather than importing and said we need to produce goods for exports and for use locally adding, "Trading is important but there is also a need for production".

He called for stronger collaboration between the Association of Ghana Industries and the Chamber, noting that they pursue virtually the same things and could unite for a larger impact and stronger voice. Mr Solomon Abam Quartey, President of GNCCI, expressed concern about the escalating high prices of petroleum and said they undermined government's efforts to achieve economic growth.

"We wish to implore government to do a careful and balanced analysis of the situation and take decisions that will be in the interest of the economy of Ghana. These may be given the necessary human face to protect the vulnerable segments of our society," he said.

He also commented about the performance at the micro enterprise level saying, "It is rough" and called on the government to subsidize the cost of airfare and hotel accommodation for companies involved in investment promotion mission.

Mr Quartey announced the Chamber's readiness to partner development and appealed to the government to grant the chamber observer status on the metropolitan and district assemblies.

"The Chamber wishes to be involved in the development of businesses, real estate, airports and other developmental programmes throughout the country"

He further urged member firms to support the Chamber to become a strong force of the private sector by providing necessary information to enable it carry out research-based advocacy for improvement in the environment for business to grow.