- November 16, 2022
- Posted by: Amos Ekow Coffie
- Categories: Banking and Finance, Economics, Trade
The Ghana National Chamber of Commerce and Industry (GNCCI) has met members of the Parliamentary Select Committee on Trade, Industry and Tourism to discuss issues relating to economy, trade and industry in Ghana.
The meeting afforded the Chamber the platform to discuss critical issues affecting the private sector and the expected solutions.
Opening the session, the President of the GNCCI, Clement Osei-Amoako thanked the committee for the opportunity.
According to him, the persistent and current issues facing the economy requires deliberate attention on pursuing home-grown policies.
In this regard, the GNCCI strongly urges the government to provide more support to value addition, local content optimisation, export development, trading of domestic products and services, and efficient competition laws which are sustainable tools needed to manage the exchange rate and inflation stability and achieve macroeconomic prudence.
He also indicated that developing and boosting local production is underscored by three essential components: Quality; Quantity; and Price.
An efficient and effective combination of these components, he said drive industrial competitiveness.
Mr. Osei Amoako noted that, to be able to stay competitive in terms of quality, quantity, and price, Ghana must focus essentially on Value Chain Development and Mapping.
“Over the years, the GNCCI has been championing Value Chain Development Mapping as it has proven to be the fastest, more consistent and more sustainable model for pursuing any contemporary industrialisation drive” he said.
The GNCCI calls for the development of the following:
a Public policy framework on industrial value chain development;
b. Policy framework on local product development; and
c. Policy readiness on industrial competitiveness
Suggested Policy interventions were:
a. Media collaborations to life the image of Ghana-made goods;
b. Demographic fusing of age, regions, and consumer differences;
c. Developing and managing the retail and wholesale skills shift for the right talent and reskilling
d. Invest in zero-based resourcing
e. Invest in retail and wholesale structural shifts that capture the full value at stake; and
f. Invest in smart automation technologies for Ghana-made goods for retailers to capture the heart of the youth
The GNCCI assured the committee of its commitment to work with all stakeholders and government in providing the needed microeconomic support for more prudent macroeconomic management and competitive businesses.
In attendance at the meeting were the members of the Select committee led by Carlos Kingsley Ahenkorah; Deputy Minister of Trade and Industry, Michael Okyere Baafi, the Association of Ghana Industries, the Ghana Union of Traders Association and some major Industry players.