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05.03.2012 Business & Finance

Eschew Bias Toward Businesses - Gov't Told

By Daily Guide
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Professor Kofi Nti, former Dean of the University of Ghana Business School (UGBS), Legon, has called on government to be fair to all business operators irrespective of their political affiliations, religion, region, tribe, gender or nationality.

Speaking at the 45 th J.B Danquah memorial lecture on the topic: 'Partnership between Government and the Private Sector,' Prof. Nti said, 'We are competing against the rest of the world and we are as important as the team we play on. We don't know where innovation or success will come from.'

Just as each partner in a business deal tries to carry out their share of the bargain to make it work, government is expected to provide the needed support to all businesses without discrimination, he indicated.

Prof. Nti also advised businesses to complement government's efforts by following regulations, paying taxes, abiding by both domestic and international quality and safety standards and ploughing back profits into business expansion and innovation.

He said government, for example, cannot succeed in its fight against corruption without the cooperation of the private sector.

Prof. Nti said the new global environment requires both the private and government to scan the international environment to identify opportunities and eliminate threats to private sector.

Government, as always, should direct its international relations to assist the private sector to establish linkages with their foreign counterparts and gain success to technology.

Prof. Nti said Ghana has come a long way from early days of government-led economic development to the present era where government has instituted several policies and institutions to help the private sector.

He said the private sector consists of micro and small businesses and it is slowly modernizing and getting into manufacturing.

Prof. Nti noted that 'there are still many challenges that need to be dealt with.

He expressed the hope that government and the private sector will work together to move the country in the right economic trajectory and possibly join their counterparts in Asia who have made huge economic strides.

He said 'Ghana has what it takes to get there, we just need the will to work at it and get there. Besides we don't have a choice because we live in a global economy now and the only way to survive is to play by the rules.'

BY Cephas Larbi

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