The Ghana Investment Promotion Centre (GIPC) says a robust manufacturing sector will be key to Ghana’s 2016 economic growth.
According to the GIPC, Ghana’s import based economy must be reduced to be able to support growth.
President John Mahama last week predicted an end of year economic growth of 4 percent which he says will increase marginally to about 6 percent in 2017.
The President cited his government’s solution to the country’s energy crisis as basis for the forecast.
Speaking to Citi Business News at the launch of the this year’s Ghana Club 100 Awards, the Chief Executive Officer of the GIPC, Mawuena Trebarh, said there are huge opportunities in the manufacturing sector for prospective investors to tap in.
‘‘Many people may not be aware of the important opportunities that are available for investment in the manufacturing sector. We also need to ensure that those companies that have chosen to pursue their commercial interests in the manufacturing sector are recognised for excellence. So if this year we have chosen the manufacturing sector to drive all the showcasing of corporate excellence across different sectors including the services sector.” She stated.
This year’s awards is on the theme “Manufacturing – Steering Ghana’s Development.”
To qualify for this year’s awards, a company must be a limited liability entity.
In addition, the government’s share ownership for companies with government interest should not be less that 50 percent unless the company is listed on the Ghana Stock Exchange.
The GIPC however says it has scrapped one of the initial entry criteria for the ranking which meant that companies should have made a cumulative 3 years net profit. However a new fourth criterion known as asset utilization has been added to three original criteria – size, weight and profitability.
By: Norvan Acquah-Hayford/citibusinessnews.com/Ghana