GOVT URGED TO REVISE INVESTMENT LAW

Rose Hayford Darko, Tema .


The President of the Ghana National Chamber of Commerce and Industry ( GNCCI) Mr Wilson Attah Krofah has urged the government to revise the country’s Investment Law to create a genuine environment for local investors .
He said the existing law allowed the in flow of imported shoddy goods without any limitations .

Mr Krofah was speaking at a meeting in Tema with members of the Tema
Regional Chamber of Commerce to promote and facilitate business in the private sector in Ghana .

He noted that the impact of globaisation had opened up the market too widely to the extent that local products had lost value .

Mr Krofah called on the private sector to enforce competencies to enable the sector to compete favourably with imported products .

He said the Chamber had been involved in business planning of the country and therefore had some achievements to its credit including the considerable fall in the rate of inflation in the country .

Mr Krofah was not happy with the operations of the Customs , Excise and Preventive Service at the port, explaining that members of the Chamber had complained abut some bullying and extortions from CEPS officials .

He appealed to those members to prove their cases by appearing before the committee which had been set up to investigate the activities of the CEPS officials at the ports .

Mr Krofah stated categorically that the private sector in Ghana must start its activities from the ECOWAS market to boost business because the market in Ghana was small .

He said as part of its efforts to see an enhanced private sector in West Africa , the GNCCI in co-operation with the ECOWAS Commission organized the first ECOWAS Business Forum in Ghana on 29th October 2007 on the theme : ‘Intergrating West Africa - Opportunities and Challenges for the private Sector’

Mr Krofah stated that the forum attracted over 300 business executives from the sub region to provide a platform for discussions on sub regional issues affecting business .

The Administrator of the Commercial court of the Judicial Service , Mrs Dorothy Kingsley Nyina introduced members to the operations of the court which dealt expeditiously and efficiently with commercial and business disputes .

She said the primary object of the court established in March 2005 was to boost business and investor confidence in the dispensation of justice .

Mrs Kingsley Nyina called on the private sector to take advantage of the court enable them solve their problems in record time to go move on with their business .

The Chairperson for the Tema Regional Chamber of Commerce and Industries , Mrs Victoria Mame Akua Hajar , reiterated the need for members to sit up because the world had become a global village .

She observed that the sector needed to grow in the production of quality goods to compete favourably with other nations