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Lamentations Economic challenges killing foreign business in Ghana - Swiss Ambassador

According to the Ambassador  said the high cost of doing business in Ghana continues to deter investments. He is calling on the government to make the business environment more conducive for business.

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Whereas the IMF and government believe that Ghana's Economic Outlook looks bright and attractive for investors. But the Swiss Ambassador to Ghana, Mr. Gerhard Brugger says  the continues deterioration of the country's macroeconomic indicators are making the country unattractive to investors.

According to the Ambassador  the high cost of doing business in Ghana continues to deter investments. He is calling on the government to make the business environment more conducive for business.

He identified the difficulties in registering a business, clearing goods from the ports  as well as the energy crises as one of the key difficulties retarding the growth of businesses in the country.

Addressing the gathering at a business breakfast meeting in Accra Thursday organised by the Swiss-Ghanaian Chamber of Commerce ont ehe theme: “Innovation in trade facilitation and E-government.”, Mr. Brugger said

“It should be the responsibility of the Ministry of Trade and Industry and other stakeholders to facilitate a framework in which businesses need to operate. The system should be made leaner, smaller and less cumbersome,” he said.

In The programme that was geared towards creating networking opportunities for businesses in Ghana and Switzerland,

Mr Brugger also mentioned difficulties in the acquisition of land, unavailability of power and high interest rates as some of the issues obstructing foreign investors from coming into the country.

Meanwhile, The Minister of Trade and Industry, Dr Ekow Spio-Garbrah, challenged businesses  in Ghana to partner the government to address challenges hindering the country’s development.

He mentioned reducing high interest rates as top of his agenda in in turning the fortunes of companies in the country around.

Mr Spio-Garbrah said Ghana’s economy had the potential to grow very fast if all the industry players supported the government by contributing towards national development.

For his part, the Chairman of the Swiss-Ghanaian Chamber of Commerce, Dr Nortey Omaboe, said the instability of the country’s currency was not good for business.

 

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