Let’s Develop Ghana’s Private Sector

?trade-ministerBy Edward Frimpong
Ghana, the need to eschew any bone-idle leading us to pooh-poohed the goodness of betterment is nigh.The need to develop the private sector to serve as an engine for growth is imperative if Ghana is to make headway in addressing a number of key challenges? including equity and sustainability.To this, government has to create? an enabling environment, including putting in place the necessary policy programs, incentive packages, appropriate legal, social and? regulatory framework for private sector investment in the country so that its strategies for doing this will develop the private sector effectively.
??? As a matter of fact, promoting public private participation(ppp) to accelerate the development and implementation of policies as well as the necessary legal and technical standards to support widespread implementation of ecommerce.Besides, there is the need to create a diversified, innovative and fully integrated industrial sector with active participation of the private sector.
??? In view of this, reducing the economic and non-economic cost of doing businesses to enable the private sector to flourish and enhancing the quality of dialogue with the private sector on macroeconomic policy will surely bring certainty.
??? Ghana, this is the time to exercise circumspection to enable the government to develop and implement training programs for key decision makers and policy formulators in government on the role of private sector in the country.This will enhance the capacity of the public sector to make effective pro-private sector and pro-market decisions to support private sector development appropriately without any hindrance.It is up to the government to continue to undertake initiatives to enhance competence and capacity at the firm level.
??? Again, doing this fervently will include the provision of business support and training extension of the micro-credit, venture capital and export credit facilities to business.
??? Finally, Ghana will be appreciated if government launch an industrial policy which will focus, amongst others on the development of small, medium and micro-enterprises that would ensure that Ghanaians entrepreneurs perform to the best of their abilities.

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