President Akufo-Addo says he is determined to change the economic conditions of the counter for the better.
That, he said will make young Ghanaians “who constitute our future citizens, see our country as a place of opportunity, instead of a place from which they flee at the peril of their lives.”
According to him, in a statement to mark the celebration of global entrepreneurship month, “we need to do all within our power to create an entrepreneurial climate, to enable our young people to come up with creative ideas that can be developed into businesses.
“Entrepreneurship makes our young people creative, it puts them to work, it gives them dignity, and, most importantly, it makes our nation strong and great.”
Those who set up businesses he said must succeed for them to create wealth and employ more people.
“This is the best way to turn our beloved country fortunes around, and I salute all our hard working and creative entrepreneurs for their contribution to the economic development of our country.”
The president said fostering Entrepreneurship and Innovation to advance job-creation and economic prosperity is at the heart of the work undertaken by my administration.
He stated that entrepreneurship is a vital component of economic growth and development, and has been globally considered and embraced as one of the most important drivers of economic growth.
In his view, government is committed to creating a conducive, business-friendly environment, which will result in a thriving private sector, and the creation of wealth and jobs for the teeming masses of Ghanaian youth.
He said “Consequently, over the past 22 months, Government has been working to improve the business environment by reducing the overall cost of doing business and improving the macroeconomic space to reduce significantly the cost of borrowing.”
Ghana has made progress in the ease of doing business, according to the World Bank Group 2019 Doing Business Report. The country improved its ranking to 114 out of 190 countries, up six places from 120 in the 2018 Doing Business Report.
According to the World Bank “It is encouraging to see that progress is being made to improve the business environment to promote investments by both domestic and foreign firms, so necessary to spur growth, provide jobs and further reduce poverty”.
“Government is diligently pursuing other measures that will go a long way towards the digitization and formalization of the economy to accelerate growth and improve domestic revenue mobilization” Nana Addo noted.