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14 June 2017 | Business & Finance

Trade Minister Challenges Private Sector To Be Innovative

Ghanaian Chronicle
Trade Minister Challenges Private Sector To Be Innovative

The Minister for Trade and Industry, Mr. John Alan Kyeremateng, has challenged the private sector to maintain competition and be innovative in its dealings.

He further stated that in the face of the availability of numerous public enterprises focused on improving the economy, the private sector should equally strive to contribute its quota to sustainable economic development.

These were contained in a speech read on the Minister’s behalf yesterday, in Accra, where the Ghana National Chamber of Commerce (GNCC) launched its maiden 2016 edition of the Chamber Business Awards.

Lauding the award scheme, the Minister said it would identify the efforts of industry players in the private sector, who are making tremendous waves in the country.

He underscored that the Ministry would partner major stakeholders, including the GNCC, to ensure that the ‘One District, One Factory’ policy initiative, among many other business commitments pledged by the Akufo-Addo-led administration, materialised.

The Minister commended the GNCC for its immense contributions geared towards promoting and protecting commercial and industrial interests in the country.

“President Nana Addo Dankwa Akufo-Addo has committed his government to ensuring that the private sector leads the growth agenda of Ghana.

“In this regard, the Ministry of Trade and Industry, together with its agencies and other ministers, is working hand in hand to deliver on the President's pledge.”

Instituting the ‘One District, One Factory’ policy initiative, he reiterated, would afford the private sector an enabling environment to explore and create innovative ideas, as well as indulge in healthy competition.

These, they could do by adhering to the best business practices, he concluded.

This year's Chamber Business Awards Night is slated for November 25 at the Banquet House of the State House, and Kwabena Agyekum, Committee Member of the awards’ team, said the scheme hinged on five key objectives, among them is to unearth the depth of existing talents in the country, by recognising excellence in Corporate Reputation Management (CRM).

He mentioned the categories for the scheme as Business Awards, Personality Awards and Special Awards, and the criteria for selection would include customer service schemes, annual turnover, profit and tax compliance, innovation and technology and employment creation.

The President of the GNCC, Nana Dr. Appiagyei Dankawoso I, said the Chamber is the leadership of the private sector, hence the need for all unregistered private industries to register with the Chamber for international recognition.

He commended the government for promising a congenial business atmosphere for the private sector, which employs 94 percent of workers, with the government employing only six percent.

The Chamber Business Awards Night would be held under the theme: ‘Enterprises in transition; recognising innovative businesses in Ghana’, and is under the distinguished patronage of President Akufo-Addo, who would recognise and reward outstanding business performers in the year 2016.

The event seeks to recognise and reward Ghanaian businesses that are excelling in their various sectors, and contributing significantly to the growth and development of the private sector, and the Ghanaian economy as a whole.

Ernst and Young, the adjudicators, on their part, promised a free and fair selection.

By Suad Yakubu