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Ghana’s private sector still remains uncompetitive – Trade Minister

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BusinessesDespite several attempts by government to enhance the competitiveness of the private sector, it still remains uncompetitive both locally and internationally, Nii Lantey Vanderpuye, Deputy Minister for Trade and Industry, has stated.

He said the non-competitiveness of the sector had been attributed largely to a number of structural constraints at the policy and institutional levels, which hampered its developmental roles.

Nii Vanderpuye was speaking at the fifth year celebration of the Haier Thermocool brand in Ghana. The Haier Thermocool electrical appliances which is distributed by PZ Ghana Limited, is a joint venture between PZ Cussons PLC and Haier Group in China.

The partnership between the two companies through the Haier Thermocool brand has succeeded in delivering quality products in West African for the past 40 years.

The Deputy Minister said in order for the country to attain its economic transformation envisaged under government’s medium term agenda, the industrial sector must play a pivotal role to enhance growth at an average annual rate of 14.5 per cent.

Nii Vanderpuye also said as a result the government had designed an industrial policy to promote increased competitiveness and enhanced industrial production, increased employment and prosperity for Ghanaians.

He said the policy had provided clear and transparent guidelines for implementation of Ghana’s industrial agenda with particular respect to growth, diversification, upgrading and competitiveness of Ghana’s manufacturing sector.

Nii Vanderpuye said Ghana continued to attract Foreign Direct Investment (FDI) from several countries in almost all part of the world with a cumulative value of registered investment amounting to $5.6 billion in 2012.

Mr Nigel Simons, Area Director, PZ Cussons Ghana, said the Haier Thermocool brand in Ghana aimed at delivering reliable, quality, electrical products specifically designed to meet African needs as well as give value to consumers.

He said Haier Thermocool started operations in Ghana in late 2007 with few appliances and dealers in Accra until it was officially launched in February 2008.

He said the brand was celebrating 40 years in Nigeria and had grown to become number one in the cooling range of products such as refrigerators, freezers and air conditioners.

Mr Simons stated that apart from the company’s excellent after sales services and innovative products and promotions, Haier Thermocool had also sponsored countless social responsibilities.

He commended the dealers and customers of the product for accepting it and making it their preferred brand, adding that the company would continue to offer to the Ghanaian community innovative, reliable and affordable products.

Source: GNA

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