Ghanaian companies need protection – AGI

Nana Owusu-Afari - AGI President
Nana Owusu-Afari – AGI President

Nana Owusu-Afari, President of the Association of Ghana Industries (AGI), on Tuesday called for some level of protection for Ghanaian manufacturing and agro-processing companies to enable them become competitive.

He said the unbridled liberalisation of the economy, high interest rates and high energy cost are making it difficult for local companies to succeed.

“These factors make it difficult for Ghanaian industries to compete against their counterparts operating in lower interest regimes and conducive environments,” he said.

Nana Owusu-Afari was interacting with  the media on the sidelines of the AGI and the Business Council for International Understanding (BCIU) of the United States of America roundtable on Ghana’s competitiveness as a regional investment destination.

About 20 US businessmen, prominent Ghanaian businesses and captains of industry attended the event, which focused on investment and partnership development.

The first Ghana Competitiveness Roundtable provided the AGI the opportunity to highlight Ghana as an ideal investment location and regional hub for multinational corporations.

Nana Owusu-Afari said there was the need for capacity building and partnership between Ghanaian businesses and foreign ones for their mutual benefit.

He said there are business opportunities in the roads and energy sectors that investors could tap into.

Mr Peter Tichansky, President, BCIU, called for partnership between Ghanaian and the US businesses.

The BCIU is US-based not-for-profit association that aims to promote international understanding through international business.

BCIU Members represent world-leading companies and promote the resolution of problems and the development of business opportunities in both the private and public sectors worldwide.

The AGI and BCIU signed a Memorandum of Understanding in February13 to work together to enhance and increase cooperation between private sector businesses.

The two institutions also agreed to pursue only objectives which are mutual and in the national interest of Ghana and the United States.

Source: GNA

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