Amidst economic challenges: President holds breakfast meeting with major players in private sector

President Nana Addo Dankwa Akufo-Addo engaged major players in the private sector at a breakfast meeting in Accra yesterday to ascertain their challenges and concerns, especially in the wake of current global economic crises.

Although the meeting was held behind closed doors after initial opening remarks, it was an opportunity for the government and the captains of industries to exchange views on how the private sector can be supported.

Present at the meeting were business owners and managers of pharmaceutical, logistics, manufacturing, and construction companies as well as top government officials.

President Akufo-Addo reiterated the government’s commitment to support the growth and development of the private sector, despite the economic challenges the country was facing.

He said countries like Japan and Korea moved from rural agrarian economies to developed economies and added that the economic history of those countries presented good examples for Ghana to follow

“We cannot do anything serious if we are not guided by history and example,” he said, noting that big brands like Toyota and Hyundai were names of people who founded enterprises to change their economies.

He said despite the challenges the country was facing, his administration would continue to use the private sector as a vehicle to lead the social and economic transformation of the country.

President Akufo-Addo indicated that the Development Bank of Ghana established recently would be a catalyst for the development of the private sector.

The Minister of Trade and Industries, Alan Kyerematen, said the current administration inherited an economy that was in distress and expressed confidence in the government’s ability to steer the country from the current economic challenges.

He said the concerns from the industry players would be given serious consideration and expressed the government’s commitment to support the growth and development of the sector. 

Mr Kyerematen urged the captains of industries to consider diversifying their businesses, noting that the government had identified 10 new industries that presented opportunities for businessmen and investors. 


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