The government of Ghana wild vigorously promote local business and support them to grow, provide the needed services and goods for the local market.
The initiative will boost the local market for Made in Ghana goods. Many such goods and businesses have struggled to survive in the local market not to talk of on the international market during the pre-void-19 ear.
For the last five months, it has become clear that Ghana needs to reposition its local businesses and the made in Ghana goods and services to better build a self-reliant economy that is self-sufficient in the production and use of essential goods and services.
With Ghana’s population estimated at some 30 million people, the decision will encourage the consumption of locally produced goods and services that are essential to the sustenance of the citizens during and post COVID-19.
This is expected to stimulate the growth of the economy internally and make Ghana self-reliant as these made in Ghana goods are given a lifeline through the stimulus packages for local business.
This move by the government is a move the Ghana Association of Industries will embrace and take advantage of.
Speaking in parliament during the mid-year budget, Minister of Finance Hon. Ken Ofori-Atta said, “Government will vigorously promote the consumption of locally produced goods and services in order to support local businesses and generate employment.”
According to the Finance Minister, this will be realized through the various MDAs and MMDAs who will be required to prioritize the procurement of local goods and services from local producers and providers.
The Public Procurement Authority and Central Tender Review Committee are to be instructed to assist int this agenda.
The minister revealed that the aim is to generate local demand and consumption with the full force of the government’s procurement capacity to ensure that most of the government procurement is sourced locally from businesses operating in the country.
The minister added that “we are in extraordinary times which calls for extraordinary leadership. Accordingly, on behalf of the President of the Republic, I have presented to you an extraordinary Mid-Year Fiscal Policy Review that seeks to reorganize our public finances to protect lives, secure incomes, revitalize businesses and focus our energies on driving the economy back on track to building a Ghana Beyond Aid. It involves a recognition that the 43 solutions to Ghana’s problems lie with Ghanaians and that, with inspiring leadership, Ghanaians can find a way to address their own challenges.”
The initiative, if implemented to the letter, will ensure a reduction in the outflow of funds to grow the business of other countries when the same goods and services can be produced here in Ghana and support indigenous businesses.