Pressure group, Alliance for Accruable Governance (AFAG,) has called on President Mahama to exhibit a high sense of statesmanship by protecting and supporting indigenous businesses to help themcompete with foreign companies.
?There is no doubt that all great nations have protected and supported indigenous businesses.
Successive governments have shielded, nourished and granted them [indigenous business] benefits for them to ward off competition from non-native competitors?.largely, our businesses are at a disadvantage due to cheap and long term capital, expertise and diplomatic pushers,? AFAG expressed this concern in a release issued in Accra yesterday.
The group urged government to make it a priority to provide financial support for promising Ghanaian businesses to expand and create wealth for the nation.
It mentioned that so far companies such as Rlg, Kpogas, Agorwu, UT Financial Holdings, Zoomlion Ghana Limited (ZLGL) and many others have all shown great prospects of competing with foreign companies.
It stressed that the time has come for government to make conscious efforts in supporting indigenous Ghanaian businesses which have shown the potential to break into international markets.
The release cited instances in South Korea, where through aggressive government support and finance, brands such as Samsung, LG, Hyundai, and SK have become international brands, bringing in hundreds of millions of dollars in taxes and other revenues to their economy.
Additionally, it noted that they employ over hundreds of people outlining a sketch of how much each of South Korea?s, Chaebol holds by way of assets.
According to the release, each of these started small but has grown over the years as a result of governmental support and protection.
In a similar vein, it stated that Japanese multinational corporations such as Canon, Sony, Komatsu, Nippon Steel, Panasonic, Toshiba, Hitachi, Sanyo, Sharp and Mitsubishi are leading brands throughout the world and always on the Fortune 500 list of leading multinationals.
These companies received enormous support in the form of financing and protection to break into the international markets.
?In China, we are all familiar with Tsingtao beer, Air China, Bank of China and other well-known names like China Mobile at one point or the other has received government finance and support. Most continue to receive government finance and support.
Airbus, Boeing even in their current forms, still receive protection from their respective governments,? it said.
The release urged the government not allow itself to be used to exploit the tax payer by unscrupulous politicians.
It entreated the government to use whatever resources advanced to it to creatively build value and thereby support the local economy through the creation of jobs.
STORY: KORYEKPOR AWLESU FREEMAN
