GHANA TO IMPLEMENT PROGRAMME TO REFORM BUSINESS REGULATIONS

ACCRA, The government is to implement a programme to reform Ghana’s business regulations from 2018 to 2020, says Minister of Trade and Industry Alan John Kwadwo Kyerematen.

Addressing participants of the Ghana SME CEOs Summit here Monday, he said the programme would include a comprehensive roadmap for reforms to reduce the time and cost of compliance with business regulations and to improve Ghana’s performance in the Ease of Doing Business rankings to one of the best in Africa by 2020.

It will also consist of a Centralised Public Consultation Portal to enable government institutions to transparently receive inputs and comments on their policies and regulations from a diverse range of stakeholders, including owners of Small and Medium-size Enterprises (SMEs), business executives, professionals, consumers, workers and the public.

He noted that it would also provide an Electronic Registry of Business Regulations consisting of an inventory of all business-related laws, legislative instruments and administrative notices and directives.

Kyerematen said as part of these processes, a more permanent institutional mechanism would be established for regular dialogue between the government and the private sector, adding that this will begin with a Presidential Business Summit during the first quarter of 2018″.

He said that in order to become competitive in the global and domestic markets, Ghanaian SMEs should be able to offer high quality products and should also provide excellent customer services.

He noted that since Ghana’s SME sector accounted for more than 80 per cent of operational businesses and contributed to more than 60 per cent of the gross domestic product (GDP) and was the largest employer, it needed attention to be given from policy direction.

He advocated the creation of new Ministry of Micro, Small, and Medium Enterprises (MSMEs) to bring about business transformation in the country. I also humbly propose a 10-year SME Master Plan, which will trigger major paradigm and structural sifts towards an entrepreneurial economy, he stated.

Source: NAM NEWS NETWORK