Veep hints of passage of law to promote construction sector

The Vice President Alhaji Dr Mahamudu Bawumia has hinted of the introduction of a Construction Industry Development Authority Bill aimed at promoting technology, business and manpower development in the construction sector.

According to him, the bill, when passed, would be one of the tripod laws including the Land Act needed to build a robust and thriving construction industry in the country.

He said it would further promote the regulation of the practice of surveying which was critical to the industry’s growth.

The Vice President was speaking at the maiden Ghana Construction Industry Excellence Awards, organised by the Ghana Chamber of Construction Industry in Accra on Friday night.

The event saw Justmoh Construction Limited adjudged Road Contractor of the Year 2020/2022, Oswal Investment Limited won Innovative Construction Company and Joana Adjei, President of Progressive Road Contractors Association, took home the Construction Woman of the Year award.

Nana Opare Kwafo I, Aburi Atwiasin Kyedomhene, Managing Director of Jilcon Construction Limited was named Exemplary Leadership in Construction Services for the Year.

GM Bamboo Eco-City Limited, Micheletti Company Limited, A. Nagesten Limited and many others were also rewarded for their outstanding contributions to the sector.

Dr Bawumia stated that government was focused on creating the enabling environment that ensures the sector was significant in arresting youth unemployment.

The passing and review of some legislations, including the Real Estate Agency Act, Rent Act, Land Act, Public Private Partnership Act, he said, were to help create an enabling environment for the sector to thrive.

“The Construction Industry is critical in the objectives of the government towards development. We want to sanitise, regulate and develop the construction industry to further development,” the Vice President stated.

While government was backing the growth and development of the industry through various legislation, he asked the industry players to examine the role of Ghana Beyond Aid agenda in the construction industry.

He said the construction industry in addition to agriculture and transportation were the three major pillars of Ghana’s economy adding that it was the intention of government to collaborate with the chamber to deepen job creation and potential of the industry.

In this regard, Dr Bawumia stated that, government was strategic in pursuing the establishment of the National Development Bank to address financial challenges that impede the sector.

He said the bank would provide long term financing and expressed hope that it would further reduce cost of borrowing by industry players. 

The Vice President noted that government’s digitalisation agenda was aimed at formalising the Ghanaian economy to contribute towards building a mortgage market in the country.

“We are, through digitalisation, formalising the economy to ensure discipline and ensure reduction in interest rate. I urge you also to tap into the opportunities provided by the African Continental Free Trade Agreement (AfCFTA),” he added.

Chairman of the Ghana Chamber of Construction Industry, Emmanuel Martey, noted with concern the numerous challenges which were crippling the growth of the industry.

Amongst them, he said, was the delay in payment to contractors for work done saying the situation had saddled members with debts.

He said the group would intensify engagement with government and other stakeholders in dealing with the challenges and develop a sustainable path to growth.

BY CLAUDE NYARKO ADAMS

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