[ 2014-12-22 ]

Asantehene, Otumfuo Osei Tutu II

Act on concerns of private sector now - Asantehene
The Asantehene, Otumfuo Osei Tutu II, has urged
government to tackle the concerns of industry to
transform the private sector into a real pillar,
anchoring the nation’s economic growth.

Industry, he noted, was riddled with genuine
challenges, and that these required deliberate
policy direction and effort to resolve.

He said everywhere in the world, governments take
the lead to create vibrant environment for local
companies to operate, so that they can grow to
create wealth and jobs for their people.

Otumfuo Osei Tutu made the call when he performed
the official inauguration of an assembling plant
built at Adako-Jachie in the Ejisu-Juaben
Municipality, by Prefos Company, a Kumasi-based
electrical engineering firm.

The plant has the capacity to daily assemble 500
pieces of street light bulbs for the nationwide
street illumination project initiated by the
government.

The Asante King suggested the introduction of
incentives that would help propel indigenous
Ghanaian companies to become more competitive.

He said he saw absolutely no reason why Ghana
could not provide business incentives, such as tax
concessions and credit facilities, to local
entrepreneurs to expand their operations.

It is important to put in place measures to
protect local industries, by introducing import
quotas to reduce the dumping of foreign goods that
can be easily produced in the country.

He pointed out that the private sector could not
stand on its feet without adequate infrastructure
– reliable electricity supply, water and
efficient civil service.

Former President John Agyekum Kufuor underlined
the critical importance of energy to the
development of the private sector, and said not
much could be achieved without an efficient energy
sector.

He eulogized the Chief Executive Officer of
Prefos, Mr Alexie Kwasi Fosu, for the bold
initiative.

He said the situation where every bit of energy
product component was imported was not good for
the health of the economy.

Mr. Julius Debrah, Minister of Local Government
and Rural Development, said Prefos was
contributing immensely to the beautification and
security of the cities and towns, and pledged the
support of government.

Mr. Samuel Sarpong, Ashanti Regional Minister,
expressed government’s determination to ensure
sufficient and reliable electricity supply, to
promote socio-economic development.

Mr. Fosu said the long-term goal of the company
was to establish a hundred per cent locally based
street lighting equipment manufacturing facility.

Source - Joy News

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