Ms Georgina Mensah-Dzatsa, a Sekondi High Court Judge on Friday noted that investors are confident to do business in countries where Alternative Dispute Resolution (ADR) systems work best.
This is because the ADR system promotes faster resolution of business related conflicts unlike the court which often times delayed cases for years.
The High Court Judge made the observation at a Regional launch of the Sekondi/Takoradi Chamber of Commerce and Industry?s (STCCI) Alternative Dispute Resolution and Anti-Corruption Centre in Takoradi in the Western Region.
She said ADR offer cost effective and confidentiality in the settlement process unlike the court system where every business secret is opened to the hearing of the court audience.
Ms Menah-Dzatsa said the system offer creative solutions to business problems and conflicts thereby ensuring continuity in both personal and business relationship for the parties involved.
Mr Ato Van-Ess, Chairman of STCCI said the complexities that are associated with formal conflict resolutions such as judicial adjudications and court room trials have not helped globally in promoting commerce.
He said members of the business community worldwide have now embarked upon serious reforms in settling cases.
The STCCI believes that businesses must have very simple and straight forward approaches to resolving business related disputes, he said.
Mr Van-Ess said the ADR centre would therefore assist in reducing the backlog of disputes before the courts, improve efficiency of the court system and redeem the image of the justice system in general.
Mr Vitus Azeem, Executive Director of the Ghana Integrity Initiative, said corrupt practices do not enhance the growth of businesses but rather had the tendency to collapse them.
He said about 40 billion dollars were lost globally through corrupt practices and business deals and Ghana was rated high in terms of the menace.
Mr Azeem said the situation where politicians, public officials and private business condone to reap government and for that matter the state of huge sums of monies are despicable and must be stopped.
?I believe that radical change, prompt investigation and appropriate sanctions violators could help in reducing the menace of corruption,? he added.