The Institute of Economic Affairs (IEA), has blamed the failure of the private sector to sufficiently support the country’s economy on inadequate infrastructure.
According to the policy think tank, most private entities are unable to expand because of poor roads and almost non-existent railway network in the country.
[contextly_sidebar id=”nfFZmc3ApFQE8nZt96tAOrO9FvXjzram”] Speaking to the media on the sidelines of a round table discussion on the theme; a thriving private sector: the key to sustainable socio-economic growth, senior research fellow at IEA, Dr. Eric Osei Asibey, said the government must provide a friendly environment for the private sector to back its numerous policies and programmes.
“We need to create competitive infrastructure; we look at our road networks; we look at our railway transportation and they still remain a big issue and we really want the private sector to respond to government’s many policies and interventions.”
“The environment has to be friendly, there should be an enabling environment to reduce cost of doing business, to reduce production cost, to reduce transportation cost and increase profitability of businesses that is the way to attract the private sector into that area”, he added.
I will make private sector thrive – Nana Addo
President Akufo Addo has reiterated his administration’s resolve to sustain the growth of the private sector.
According to him, the government is putting in place measures to support local businesses in the country.
“I want to assure the Ghanaian people and the business community that my government will continue to work towards the creation of a conducive environment for the private sector to thrive”.
What the IEA does
The Institute of Economic Affairs (IEA) is an independent, non-profit, non-governmental and a non-partisan public policy think-tank founded in 1989 with a view to broadening the debate on public policy, engendering private sector-led economic growth and strengthening the pillars of democracy.
The ultimate mission of the IEA is to promote good governance, democracy and a free and fair market economy in Ghana and Africa as a whole.
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By: David Nii Larte Lartey/citinewsroom.com/Ghana