Tema:The Tema Region Association of Ghana Industries (AGI) convened its Regional Annual Meeting, advocating for strategic industrialisation as a means to boost economic growth and transform Ghana's economy. The meeting, themed 'From Stabilisation to Growth Strategic Industrialisation as a Catalyst for Economic Transformation,' gathered industry representatives to discuss enhancing industrial growth and the sector's contribution to the national economy.
According to Ghana News Agency, AGI Chief Executive Seth Twum-Akwaboah highlighted the need to shift focus from macroeconomic stability to increasing local production, exports, and job opportunities. He stressed that economic improvements must translate into tangible business benefits. Twum-Akwaboah noted the high business confidence reflected in the AGI Business Barometer Reports, but warned that stability alone was insufficient without enterprise-level growth.
The meeting also addressed the government's 24-hour economy initiative as a chance to expand industrial capacity and boost exports. AGI expressed support for the Ghana Revenue Authority's Republica AI system, which promises to improve the clearance process for imports and combat unfair competition from under-taxed goods.
Dr. Eddie Akwetey, Tema Regional Chairman of AGI, described the meeting as a platform to address business challenges and propose solutions. He noted that while the stability of the cedi and declining inflation offered some relief, high production costs persisted. He urged the government to rehabilitate industrial roads, pointing out that poor infrastructure was increasing business costs.
AGI Vice President Dela Gadzanku called for greater investment in innovation and local value chains to boost competitiveness, while also highlighting issues like high energy costs and port congestion. Presentations at the meeting covered port operations, with the Environmental Protection Agency discussing fees and charges, and the Ghana Shippers' Authority addressing port congestion impacts.
The Ghana Ports and Harbours Authority was notably absent from the meeting, missing the opportunity to present on container evacuation challenges from Meridian Port Services.