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02.03.2012 Business & Finance

Gov't must be fair and objective to private businesses

By Ghana| Joy News TV
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A former dean of the University of Ghana Business School, Professor Kofi Opoku Nti has called on government to be fair and objective in its support for businesses operating in the private sector.

Delivering a lecture at the 45th J.B. Danquah Memorial Lectures in Accra, Prof. Nti said it was important to ignore the political, religious or ethnic affiliations as well as the gender and/or nationality of business owners when promoting investments or supporting businesses in the country.

This he said would help business owners become more innovative and in the long run ensure success in the partnership between government and the private sector.

Commenting on the partnership between government and the private sector, Professor Nti said the new global environment requires both government and the private sector to scan the international market to identify opportunities and to eliminate threats to the private sector.

“The government has to ensure that the private sector is not discriminated against in the global market and when necessary, it should direct its international relations to assist the private sector to establish linkages with their foreign counterparts and gain access to technology” he said.

He also stressed the fact that for any partnership to be successful, there is the need for all parties concerned to take up their share of responsibilities.

The former dean of the University of Ghana Business School acknowledged the efforts of successive governments in the creation of several policies and institutions targeted at helping the private sector.

Even though there are still many challenges that need to be addressed in the sector, Professor Nti expressed optimism that government and the private sector will be able to work together to move the country onto the right economic trajectory.

He also called on government to provide an enabling environment for the private sector to improve upon their operational efficiency.

“Government and the private sector” he said “have crucial and distinct roles to play in development and that it is necessary for government to fully align itself with the private sector to transform the economy” he said.

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