Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Government to develop local content policy

  • SOURCE: | Editor
  • spio gabrah

    Dr Ekow Spio Gabrah, Minister of Trade and Industry, said government would be developing a local content policy to make it compulsory for foreign investors to partner with local business men.

    He said the situation where foreigners wholly owned businesses in Ghana is not the best practice and it is imperative that a policy is developed to make Ghanaian businessmen have a share in businesses owned by foreigners.

    Dr Gabrah said this at the Ghana International Business Network breakfast meeting in Accra, organised by the Entrepreneur Foundation of Ghana on the theme “Enhancing Strategic Business Alliance between domestic and foreign investors for sustainable economic development”.

    He said if the policy is implemented, foreign investors would be obliged to partner with Ghanaians before being issued with a licence or certificate to operate.

    He said, government would continue to promote made in Ghana products as a way of creating employment for the youth as well as creating more entrepreneurs.

    Mrs Mona Quartey, Deputy Minister of Finance, said Ghana has witnessed consistent economic growth in the last three decades, pushing it to a middle income status and is on track to reducing poverty.

    She said government would continue to maintain micro economic stability in order to be able to withstand any shocks to the economy and keep base with its middle income status.

    She said Small and Medium Enterprises (SMEs) play key roles in the economy, and that, its development are key drivers for economic growth.

    Mrs Quartey said government is therefore developing policy intervention and institutional reforms to develop the SMEs and has launched the Ghana Alternate Market Platform to provide financial support to SMEs, broaden its investor base and provide liquidity for its shareholders.

    She said there are many business opportunities in Ghana, especially in the area of manufacturing, oil and gas, tourism and others and urged the private sector to take advantage of it

    Source: http://www.ghananewsagency.org/economics/government-to-develop-local-content-policy–87683

    Share this article

    Leave a reply

    Personality of the Month
    Poll

    Do you think the President should fund the free SHS with oil revenue?

    Follow Us Online
    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Events Calendar
    << Jul 2018 >>
    MTWTFSS
    25 26 27 28 29 30 1
    2 3 4 5 6 7 8
    9 10 11 12 13 14 15
    16 17 18 19 20 21 22
    23 24 25 26 27 28 29
    30 31 1 2 3 4 5
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar