ACCRA– The Ghana National Chamber of Commerce and Industry (GNCCI) has launched its Agricultural Value Chain Project aimed at addressing data constraints and the expected business connectivity needed to create better interfaces between industry players, performance matrices and the wider economy.
The project seeks to support the government’s industrial transformation agenda, which is also enjoying support from other stakeholders.
Notwithstanding the expressed support and commitment, it is the Chamber’s expectation that Government would continually engage the Chamber and other stakeholders to address the distress faced by industry with respect to the provision of relevant micro data,” the GNCCI chief executive officer, Mark Badu-Aboagye, said in a statement here Wednesday. Such micro data are critical in examining the revenue contributors to the wider economy.”
The GNCCI noted the government’s commitment in supporting the private sector to drive the industrial transformation of the Ghanaian economy through numerous interventions, saying that these initiatives tended to serve as a short-term approach to solving a systemic problem.
The statement said the Chamber was aware that many businesses, including those undertaking domestic production, were distressed. They are borrowing at very high interest rates and face unsustainable competition from cheap imports. The Chamber is also aware that the tax regime and the manner it is applied do not always support domestic industry, the statement added.
It said the inadequacy or non-availability of bottom-up data in identifying and addressing the inherent risks and bottlenecks along the value chains would undermine the industrial transformation agenda of the government.
In the opinion of the Chamber, a stimulus package to industry must encompass addressing the policy constraints on businesses. It must address questions around trade policy and the virtual takeover of the domestic markets by imports. It must address the prevailing high interest rates. It must recognise that policy matters more to industrial development than one-off projects, the statement said.
The Chamber urged the government to involve all stakeholders in the management of the stimulus package.
Source: NAM NEWS NETWORK