The Swiss Ambassador to Ghana, Mr Gerhard Brugger, has said the high cost of doing business in Ghana continues to make Ghana an unattractive spot for foreign investors.
He, therefore, called on the government to remove any barriers, including the difficulties in clearing goods at the country’s ports, since it prevented foreign nationals from doing business in Ghana.
Speaking at a business breakfast meeting in Accra yesterday, Mr Brugger said the cumbersome nature of doing business in Ghana, particularly when one wanted to establish a business and the high cost of production discouraged many businesses from coming to the country.
“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.
The programme was organised by the Swiss-Ghanaian Chamber of Commerce on the theme: “Innovation in trade facilitation and E-government.”
The purpose of the event was to create the platform for businesses to discuss challenges that hindered their operations and also provide networking for young businesses.
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.
Let’s work together
The Minister of Trade and Industry, Dr Ekow Spio-Garbrah, called on the business community to partner the government to address challenges hindering the country’s development.
He, particularly, mentioned the high interest rates as one of the main reasons why businesses were not recording growth and, therefore,urged trade industries to join the fight against addressing those issues.
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.
According to him, the depreciation and appreciation of the cedi had forced many businesses to record little growth since the year began.
Dr Omaboe, therefore, appealed to the Ministry of Trade and Industry to ensure that businesses received the needed support to expand their operations and employ more people.