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24.06.2005 General News

Government adopts slogan for investing in Ghana


Akosombo (E/R), June 24, GNA - Government on Friday said it has adopted a comprehensive slogan to market Ghana both at home and abroad as a definite destination for business cooperation. The slogan: "Ghana, A Golden Experience" and aims at positioning Ghana as the most logical business partner on the Continent.

Briefing the Ghana News Agency at the Sixth Ghana Investor's Advisory Council (GIAC) Meeting at Akosombo, Mr Kwamena Bartels, Minister of Private Sector Development and President's Special Initiatives, said the idea was to bring out the message of Ghana as a ripe port for the Golden Age of Business. It also targets Ghana for

increased investment. The Advisory Council is select body that meets with the President to discuss matters of national concern in a dispassionate manner. This Meeting would consider the progress report of the Fifth Meeting and receive progress report of the Five Consultative Working Groups made up of the Financial Sector Reform Group; Customs, Civil Service, Trade Facilitation Industrial and Trade Policy Reforms Group; Land Reform Group; Agriculture, Agri-Business Group and the Labour Reforms Group. President John Agyekum Kufuor chairs The GIAC, which holds its meetings twice a year to discuss the economic direction of the country.

Mr Bartels explained that a Committee would strategize the slogan. "This will be an important aspect of promoting Ghana to the outside world." As part of the programme, Mr Bartels noted; "I expect the Committee to come up with road shows, promotions and adverts in both local and foreign media". He said Ghana's Missions and Embassies would join the drive to place Ghana on the world map through branding.

On some of the subject discussed at the previous Meeting, Mr Bartels said the Government had established a National Labour Commission as part of Labour Reforms. He said public education was ongoing to get the people to understand the Labour Law. He noted that the recent National Association of Graduate Teachers (NAGRAT) strike and the threats of a strike by Doctors and Paramedical Staff bore testimony to the need to speed up the dissemination of the Law.

"It is important for both labour and management to understand the requirements and processes laid out in the Law to improve industrial relations necessary for the right investment climate," he said. He said Parliament had passed the Act establishing the Venture Capital Fund and the Long Term Savings Act while the Draft Bill on Off-Shore Banking was receiving attention from the Ministry of Finance and Economic Planning. He said Government had established three credit rating agencies and were operational. Consultants are working on a Credit Bureau Law to regulate their operations."

Mr Bartels the Ministry of Food and Agriculture had drawn a new National Strategic Plan on measures to strengthen Agricultural Extension Services. President Kufuor said the economy was on the upswing and urged the members of the GIAC to work at pushing for a sound economy capable of meeting the aspirations of the people. He noted that with the pace of strategies being adopted by the Government, "we expect that inflation could drop further to a single digit by the end of the year."