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Local economic development policy to boost business growth in Ghana launched

Martin Adjei-Mensah Korsah is the Minister of Local Government, Decentralisation and Rural Devt

Tue, 10 Sep 2024 Source: www.ghanaweb.com

The Ministry of Local Government, Decentralisation and Rural Development has launched the Local Economic Development Policy and Implementation Plan (2024-2029) at the Institute of Local Government Studies.

The sector minister, Martin Adjei-Mensah Korsah, said the policy aims to promote a conducive environment at the district level for sustained local business growth, decent employment opportunities, and economic empowerment for all Ghanaians.

"The 2024 LED Policy and Implementation Plan presents the opportunity for us to

build on the successes of the 2020 Policy and address the gaps.

"The Policy goal is to promote a conducive environment at the district level for sustained local business growth, decent employment opportunities, and economic empowerment for all Ghanaians.

"The Policy identifies 8 objectives, 29 strategies, and 124 activities for implementation from 2024 to 2029," he said.

He continued, "Ghana, like other countries, signed onto the United Nations Sustainable Development Goals (SDGs). The SDG 8 is focused on promoting sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.

"The action we take today is in line with achieving target 3 of the SDG 8, to

promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services.

"It is the vision of Government to give equal opportunities to all citizens and to leave no one behind."

The policy is aligned with the United Nations Sustainable Development Goals (SDGs), particularly SDG 8, which focuses on promoting sustained, inclusive, and sustainable economic growth.

It also ties in with the African Union Agenda 2063, which aims to create a prosperous Africa based on inclusive growth and sustainable development.

The policy identifies eight objectives, 29 strategies, and 124 activities for implementation from 2024 to 2029.

These include promoting productive activities, decent job creation, entrepreneurship, creativity, and innovation, as well as encouraging the formalization and growth of micro-, small- and medium-sized enterprises.

During the event, which was held at Ogbojo on September 10, 2024, the minister highlighted the achievements of the 2020 Policy, including the establishment of LED Platforms across all MMDAs, the integration of LED into various projects and programmes, and the training of over 3,000 officers of MMDAs and Regional Coordinating Councils in local economic development.