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19.07.2005 Business & Finance

Link research with market demands - PEF

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Accra, July 19, GNA - Private Enterprise Foundation (PEF) on Tuesday said industrial research ought to be linked to market and product demand.

It said the nation's development needs called call for closer collaboration between the private sector and industry, which research should be the linking factor.

Dr Osei Boeh-Ocansey, Director General, PEF said over the years most research works failed to meet the needs and market demands, which had led to findings to remain in dusty files while the industrialists were unaware that the formula for the production of a needed commodity existed and thus made redundant the research work and the researcher and even poorer.

Dr Boeh-Ocansey who was explaining to the Ghana News Agency the famine existing research

and industrial development with specific reference to the gap between research and development which had led to the famine of industries in the rural areas where utilisation of raw materials in some parts of the country in the rural areas could lead to the establishment of factories that could even add value to some to some products to reduce poverty. He made the points after briefing the press on the just ended G8 Summit and the challenges facing Africa.

He said research works were two fold and that one was to gain knowledge and the other was concerned with industrial production that ought to produce a product for the market and "now we have reached a critical stage of our development agenda to make sure that we respond to the needs of the market".

Dr. Boeh-Ocansey said over the years, governments were not able to fund adequately research works to provide the means towards the market. He said it was unfortunate that many often than not research works were carried out without reference to the demands of businessman, which made it difficult for them to support or buy the findings for use. He said, "The time has come for the researchers to find out what the private sector wanted before the research was carried out...

With the challenges posed by the cancellation of debts of some African countries by the G8, "the right time has come to make sure that the private sector forges a closer relationship with researchers to make sure that the works that come out is able to make the needed impact on the market

He said governments needed to concentrate on doing fewer things better, by cutting down "red tape", upholding the rule of law and developing the capacity of the public sector and making more effective. Unless a concerted global action was taken to root out all those who engaged in, or condoning corrupt practices, investment flows into the countries would not reduce the poverty levels on the African continent, he said. 19 July 05