President Nana Akufo Addo has reaffirmed his government’s plan to develop the country’s private sector to propel economic growth.
To this end, an NPP government will lessen the burden that has impeded the growth of the sector. According to Nana Addo, the private sector is a critical component of economic development.
He explains that the reduction of taxes among others should allow Ghana’s private sector to employ more people and improve the standard of living among citizens.
“We are indeed counting on a thriving private sector to drive growth and create jobs. We will stimulate the creative juices of innovators; we will bring to life the adventurer in you. It is time to imagine and to dream again, time to try that business idea again,” The President made the remarks during his investiture on Saturday, January 7, 2017.
The NPP, prior to the 2016 general elections promised to reduce some taxes and completely scrap some which it believed were impacting negatively on local businesses.
In his inaugural speech, Nana Addo was confident the implementation of such pledges should lift Ghana to an enviable position with regards to ease of doing business.
“We will reduce taxes to recover the momentum of our economy. The doors of Ghana are open again; the shutters are up again, there could not be a better opportunity to make in Ghana and to make it in Ghana. Ghana is open for business again.”
The President, in an earlier engagement with the Private Enterprise Federation (PEF) also announced that his administration will not compete with the private sector for funds.
The increased borrowing by the out gone NDC government has been largely criticized as impacting hugely on private businesses.
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