THE Association of Ghana Industries (AGI) is advocating for policies and laws in the government’s 2025 budget statement that will help protect local industries from competition from foreign imports.
With particular reference to the government’s 24-hour economic strategy, the association in describing the policy as refreshing and a game changer noted that, the new vision of the government can only be achieved if local companies are insulated through the introduction of deliberate policies.
Head of Memberships Development at AGI, Stephen Owusu, dropped the hint in an answer to a question posed by the Graphic Business during today’s session at 3rd US-Ghana Business Expo Roundtable and B2B matching in Philadelphia, Pennsylvania.
The paper wanted to know more about some of the expectations of the association in the 2025 Ghana budget statement to be delivered next month.
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Mr Owusu said; “We believe in the 24-hour economic strategy, but we can not run our industries for 24 hours to produce so much only for us to be exposed to competition from imported products.
“The expectation for industries is that government should incentivize businesses to enable them to run 24 hours” he added.
Meanwhile, he said the association is working behind the scenes with the 24hr office of the government to fine-tune the various areas the association requires support in the 2025 budget.
24hr economic strategy
The John Mahama 24hr economic strategy is a policy intervention carefully designed to encourage and support certain businesses and companies to operate 24/7 in the country, preferably in a three-shift system of eight hours each, by creating an enabling environment that promotes productivity, competitiveness and well-paying jobs.”
Challenges
Analysts have consistently identified challenges that affect the competitiveness of the manufacturing sector in the country.
Key among them include lack of protection for local industries, inadequate access to finance, high energy costs, poor logistics infrastructure, limited technological innovation, and skills gaps in the labour force.
They have therefore, stressed the need for the government to use its first budget statement to send the right signals by announcing a raft of measures and policies that will help the industries to run in line with its 24hrs strategy.
US-Ghana Business Expo
The 3rd US-Ghana Business Expo Roundtable and B2B matching which first begun in Lancaster, Pennsylvania, USA with about 20 private businesses from Ghana participating, is now in the final lap in Philadelphia.
An initiative of the US-Ghana Chamber of Commerce, Philadelphia, in collaboration with the US Commercial Service, Association of Ghana Industries (AGI); Graphic Business, a leading business and finance newspaper in Ghana; World Trade Centre, Greater Philadelphia; Lancaster Chamber; Fox School of Business; and MillersVille University, Lancaster; among others, the programme is meant to among other things, serve as a major platform for scores of Ghanaian businesses to discuss business opportunities with their US counterparts from various sectors.
Key sectors of focus during the event are: Agriculture, Energy, Healthcare, Transportation, and Trade and Investment. The rest are: Fintech, Real Estate and Technology.