By Elizabeth Larkwor Baah, GNA
Tema, Oct. 16, GNA- The Tema Region Association of Ghana Industries (AGI) has convened industries and companies for its Regional Annual Meeting, calling for strategic industrialisation to accelerate economic growth and transform Ghana’s economy.
The meeting, held under the theme: “From Stabilisation to Growth: Strategic Industrialisation as a Catalyst for Economic Transformation,” brought together representatives from industries and companies in the Tema Region to deliberate on strategies for strengthening industrial growth and improving the contribution of the industrial sector to the national economy.
Mr Seth Twum-Akwaboah, Chief Executive, AGI called for a shift from macroeconomic stability to increased local production, exports, and job creation, stressing that improvements in the economic environment must translate into tangible benefits for businesses.
Mr Twum-Akwaboah said that the first and second-quarter AGI Business Barometer Reports indicated high business confidence, largely due to improvements in macroeconomic conditions, emphasising, however, that stability alone was insufficient without corresponding growth at the enterprise level.
He said the government’s 24-hour economy initiative presented an opportunity to expand industrial capacity, increase production volumes, boost exports and create employment, saying that the association was prepared to collaborate with the government to identify strategic industries, strengthen their operations and sustain the gains achieved in the macroeconomic environment.
He said the association supported the Ghana Revenue Authority’s introduction of the Republica AI system, as it could help improve the clearance process and ensure that imported goods attract the correct duties and taxes, saying that manufacturers had long complained about unfair competition from imports that were allegedly undervalued or inadequately taxed.
“When the GRA introduced this system, we did not have any moral right to go and speak against it. What we did was that we took members’ concerns to account, and we engaged GRA, and we pushed, and they gave us a time assurance that if people have issues in the clearing process within 48 hours, we’ll make sure they attend to it, because we know demurrages are sticking,” he stated.
Dr Eddie Akwetey, Tema Regional Chairman of AGI, in his welcomed address described the Annual General Meeting as an opportunity to discuss challenges affecting businesses and make suggestions to find solutions to them.
Dr Akwetey noted that the stability of the cedi and declining inflation provided some relief, although manufacturers continued to face high production costs due to previously purchased raw materials.
He appealed to the government to urgently rehabilitate industrial roads, particularly routes from the port and within industrial areas.
The Tema AGI Chairman explained that the poor roads were causing frequent container accidents, damaging raw materials, and increasing operational costs for businesses, stating that the association had engagements with the Tema West, Kpone-Katamanso and Prampram Municipal Assemblies to address business concerns.
He said Prampram had become important for industrial expansion because of available land, including plans for an industrial park around the Spin Rock area, saying that it was also working to resolve boundary issues between Kpone-Katamanso and Prampram, which had created uncertainty over property rates and other obligations.
Mr Dela Gadzanku, AGI Vice President, SMEs called for increased investment in innovation, improved productivity, and stronger local value chains to enhance the competitiveness of Ghanaian industries emphasising Tema’s strategic importance to manufacturing, trade, and economic development.
He, however, mentioned that high energy costs, limited access to affordable financing, operational challenges and congestion at the Tema Port were major constraints requiring practical solutions and sustained collaboration between industry and government, reiterating that the government’s 24-hour economy policy offered an opportunity to expand private-sector participation in production, investment and employment generation.
The stakeholder presentations covered key issues affecting port operations and cargo management. The Environmental Protection Agency (EPA) presented on its fees and charges applicable to cargo at the port, while the Ghana Shippers’ Authority (GSA) was expected to address the current congestion at the port and its impact on businesses.
The Ghana Ports and Harbours Authority (GPHA), which was scheduled to present on the challenges affecting the evacuation of containers from Meridian Port Services (MPS) to the inland container depots, as well as the management of empty containers within the Tema township, was absent from the meeting.
GNA
Edited by Laudia Anyorkor Nunoo/Linda Asante Agyei
Reporter: Elizabeth Larkwor Baah, GNA
Email: elizabeth.baah.gna.org.gh