The Ministry of Trade and Industry is developing a special economic zone policy, President Nana Addo Dankwa Akufo-Addo has announced.
The initiative is to create an attractive environment for domestic and foreign companies to establish their bases and operations in Ghana.
Addressing the 31st and 32nd President’s National Awards for Export Achievement, in Accra, President Akufo-Addo expressed optimism that the initiative would boost business growth and economic development.
The special economic zones will focus on some industries and sectors such as manufacturing, technology, and trade.
“The primary objectives of these special economic zones include job creation, export promotion, technology transfer and increased direct foreign investment,” he emphasised.
The President’s National Awards for Export Achievement Scheme is an event organised by the Ghana Export Promotion Authority (GEPA) to honour companies that excel in export trade.
It seeks to stimulate growth of non-traditional exports, serving as a cushion to the volatility of earnings from traditional exports.
Special awards are conferred on institutions and organisations that contribute in diverse ways to the growth of the non-traditional export sector at the event.
This year’s programme was held jointly under the supervision of the GEPA and Ghana Free Zones Authority (GFZA). About 20 businesses were honoured.
They received plaques and citations for increasing and sustaining national awareness for export of non-traditional items.
The agenda is to encourage higher levels of performance from exporters.
President Akufo-Addo assured that his Administration would continue to build an enabling environment to provide the private sector with the needed catalyst to operate profitably, grow and remain globally competitive.
“My government is determined to bring prosperity to our people by working closely with the private sector.
“It is the private sector that can create the needed job opportunities for the people of our country, especially for our youth, and I am confident that the Ghanaian private sector will rise to the challenge,” he noted.
The President asked the citizenry to think Ghana first by patronising local products.
“Let us advance our collective interest, patronise made-in-Ghana products to increase and expand domestic production and reduce imports,” he advised.
He lauded the exporters for their resilience and determination to achieve their mission statements – contributing significantly to the growth of the economy.
They have been instrumental in creating jobs and have had positive effects on the country’s balance of payment.
“Despite the stiff global competition, and the present global challenges you are confronted with, I congratulate all of you for contributing some US$3.5 billion in 2022, representing an increase of six per cent over the 2021’s figure of US$3.3 billion in foreign exchange to our national accounts,” the President noted.
Mr. Kobina Tahir Hammond, Minister for Trade and Industry, advised the exporters to strive for excellence in their business operations.
Mr. Michael Oquaye Junior, the Chief Executive Officer (CEO), GFZA, said recognising excellence in driving sustainable exports was not just an economic strategy, but a “commitment to the wellbeing and advancement of our nation.”
Dr. Afua Asabea Asare, the CEO of GEPA, said the awards’ scheme reflected the collective commitment to fostering a robust export sector.
This year’s awards’ ceremony was on the theme “Recognising Excellence: Driving Sustainable Exports to Accelerate Ghana’s Prosperity.”
GNA