Monday, November 01, 2010

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PEF Encourages Business

Monday November 1, 2010.

By William Yaw Owusu
Osei Boeh-Ocansey, Director-General of the Private Enterprise Foundation (PEF), says the foundation is committed to helping business associations to become stronger and able to articulate the views of their respective members to government without distortion.

He said the effort would not only help the large companies but other Small and Medium Scale Enterprises (SMEs) who constitute the majority of businesses in the country and often feel left out during consultations in enacting policies beneficial to the private sector.

Mr. Boeh-Ocansey was speaking at a three-day workshop organized by PEF to promote business associations in the country with sponsorship from the Konrad Adenauer Stiftung (KAS) in Sunyani on Thursday.

He said the latest World Economic Forum (WEF) Global Competitiveness Index 2010/2011 ranks Ghana 114th out of 139 countries saying “in other words, we are the 114th most competitive country in the world meaning our private sector businesses would find it difficult to compete in the world and already do so.”

He said the upcoming Economic Partnership Agreement (EPA) presents a challenge for the country and it was up to leaders of business associations to organize the people to be able to meet the challenges.

The Brong Ahafo Regional Minister, Kwadwo Nyamekye-Marfo, said for the private sector to become the engine of growth for the nation, intermediary organizations such as trade and business associations must be able to act as the real voices of the sector, build their capacity and determine policy and the allocation of resources.

He said government was committed towards ensuring that there was an enabling environment for the private sector to flourish and tasked SMEs to create the platforms that would enable them to articulate their concerns to attract the attention of policy makers.

“They can advise government on the adoption of prudent economic policies that will create the appropriate environment for private sector growth and development,” he said.

Saeed Owusu-Brobbey, Regional Manager of the National Board for Small Scale Industries (NBSSI) said in the current competitive business environment, it was impossible for any small scale entrepreneur to survive as an individual.

He urged business associations to attach professionalism, transparency and accountability to their work.

Isaac Owusu-Mensah, Senior Programmes Manager of KAS said the foundation was committed to helping to strengthen institutions in the country to ensure accelerated development.

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