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22.02.2006 Business & Finance

AGI will explore all means to develop SMEs

By GNA

Tema, Feb 22, GNA - The Association of Ghana Industries (AGI) says it will continue to explore all avenues open to it to enable it provide the necessary support for the Small Medium Scale Enterprises sector to enhance economic growth.

Mr Tony Oteng-Gyasi, the President of the Association said pragmatic measures would be adopted to ensure that the AGI focus on the SMEs was translated from mere words into a reality.

He was speaking at a day's training seminar for members of the Association on Tuesday to build their capacity in good reporting writing and educate industrialists of the opportunities opened to them to expand their activities under SNV, a Dutch an international development organization initiative.

Dubbed: the Programme for Cooperation with emerging Markets (PSOM), the initiative established by the Netherlands Foreign Affairs Ministry and the Ministry of Economic Affairs share in the financial risks that companies in developing countries face in accessing markets in the developed economies.

Mr Oteng-Gyasi said the country could only move forward when the SMEs sector was well supported since research and experiences in other countries had shown that it was the sector that generated more jobs. He asked the participants to make the best use of the seminar to help improve their performance since members would only grow by taking advantage of the lessons provided and applying them on their jobs. Mr Oteng-Gyasi asked them to take the lessons on business plans seriously since it was one key way to success in industry. Mr Larry Attipoe, Portfolio Coordinator of the Netherlands Development Organization Ghana (SNV) said the primary focus of SNV was poverty reduction through creating the enabling environment for businesses to thrive.

He said knowledge of business standards in the international market was essential for competitiveness in the international arena. Mr Attipoe urged the AGI members to take advantage of the project to expand their businesses and create employment as well as benefit from technological transfer.

Ghanaian companies stands to reap a total of 850,000 Euros for the execution of the projects after proposal were accessed.

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