President opens 2-day Presidential summit in Accra

Government is holding a two-day dialogue with the private sector to discuss, among other issues, the fiscal and non-fiscal incentives to support private sector development in the country. 

The dialogue, which was opened by President Nana Addo Dankwa Akufo-Addo in Accra yesterday, also creates an opportunity for private sector players to provide substantive input into the formulation of programmes to support private sector development.

The Presidential Business Summit, the first of its kind, focused on foreign exchange regulation and currency stabilisation, access to finance and cost of capital, energy, and support for local industries through procurement and local content regulation. 

President Akufo-Addo, in an address, pledged the government’s commitment to create an enabling environment for the private sector to develop and support the growth of the country’s economy. 

“We will continue to strengthen and deepen our engagement with the private sector towards realising this goal.” 

“The thematic areas and sectors selected for deliberations during this two-day Presidential Business Summit have been carefully chosen to ensure that the outcome would be actionable business, compact, with clear commitment, from both government, and private sector,” he said

President Akufo-Addo said his administration had taken bold measures to stem the risk of recession and the negative economic impact of the coronavirus disease (COVID-19). 

According to him, the unflinching support, creativity and fortitude of the private sector, coupled with the effective management of thepandemic by the government, had enabled the country’s economy to bounce faster than its peers.

“After recording negative growth in the second and third quarters of 2020, the economy recovered strongly in the fourth quarter of the year and went into the first and second quarters of 2021, registering an impressive growth rate of 3.1 percent in the first quarter of this year and 8.9 percent in the second quarter,” he said. 

The Minister of Trade and Industry, Alan KwadwoKyerematen, announced plans by the government to hold sustained engagements and consultations with the private sector 

“The Presidential Business Summit, a critical component of this framework will consolidate the series of consultations and dialogue between government and private sector within any given year and provide substantive input into the formulation of programmes to support private sector development,” he said. 

He said the stakeholders would discuss challenges in the agriculture and agribusiness sectors, manufacturing, construction, mining, financial, ICT, tourism and hospitality, and transport and logistics sectors.

BY YAW KYEI

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