In line with the government’s vision of making it easier for local businesses to thrive, the Ministry of Trade and Industry has collaborated with some Municipal and District Assemblies to develop a three-year Business Regulatory System (BRS).
The reforms are scheduled for roll out in June this year.
The BRS has seven elements which incude; Rapid Improvement of the doing business Indicators, Creation of a regulatory inventory and national Ghana Regulatory Registry (GRR) with positive security, rolling regulatory review of all business regulations.
The others are centralized constitution web portal and a new transparency regime, regulatory relief for SMEs and entrepreneurs at early stages of growth, sustainability strategy with a regulatory reform unit and RIA as follow on steps and finally communicate about the whys of reform to the public and build capacities in the business.
The move is aimed at improving the quality of Ghana’s legal systems to promote growth, create jobs, and economic prosperity.
Speaking to Citi Business News on the matter, Head of Export Trade at the Ministry of Trade and Industry, Ebo Quaison said the ministry will ensure that the businesses operate in fair and conducive environment.
“Third will be the rolling regulatory review of all business regulations in that we wouldn’t just bring this out but every time ensure that whatever regulations are in place are tied in with the realities of the time.
The deliverables of the BRS will be implemented through an Action Plan with a strong monitoring and evaluation mechanism.
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By: Anita Arthur/citbusinessnews.com/Ghana