AGI DIALOGUES WITH PARLIAMENT

Scores of business people and industrialists, predominantly members of the Association of Ghana Industry (AGI) and it's top brass, On Wednesday, July 20, 2022 at the , actively and enthusiastically participated in the AGI dialogue session with the leadership of Parliament, to  deliberate on how the work of Parliament impacts on Industry, at the Accra International Conference Centre.

The high-profile event, sponsored by B5 Plus Group and Voltic Ghana Limited, was over subscribed. 

Under the theme"Promoting Ghana’s Industrial Development Agenda: the role of Parliament",

had in attendance the MP for Suame and Majority Leader of Parliament, Hon. Osei Kyei Mensah Bonsu. 

Also in attendance was MP for Ellembele and Ranking Member on the Trade, Industry and Tourism Committee of Parliament, 

Hon. Emmanuel Armah-Kofi Buah, representing the Minority Leader of Parliament.

In his opining address, the AGI President, Dr. Humphrey Ayim Darke  indicated that, this meeting comes at a time that we all seek to find solutions to our the challenges that confronts us as a nation, such as the current exchange rate situation, fuel price hikes, external shocks of the Ukraine - Russia conflict that has created  quite a turbulent time for our industries and the economy, as the Central Bank is seen deploying monetary policy tools to contain an unyielding inflation.

Adding that, the Ghana Statistical Service have just released the producer price index for industry in the month June, at 38% from 33.3% in may this year. 

" This is quite alarming"

Dr. Ayim Darke stressed.

He pointed out that, the nature of parliament today offers a great opportunity for both Minority and Majority to build consensus and to work closer in enacting laws that will accelerate Ghana's industrial agenda, because the nation is at a crossroads.

The AGI president expressed regret that, events leading to the enactment and passage of the famous E-levy law, could have been managed to repose business confidence and steer our economy through the turbulent effect of the rating agencies, which remains a major threat to our economy.

He hinted that, AGI foresees

the IMF negotiations impacting on this year mid term budget and beyond. Indicating that, the long term solution to our economic quagmire, hinges on our collective ability to develop the competitive productive sectors, which will generate revenue and jobs.

Dr. Ayim Darke, further indicated the negotiations with the IMF must reflect support for local industry in its structural transformation.

He said, it is the humble request of the AGI, that the Minority and Majority avert their minds to adopt policies that will spur growth of local industry, promoting local content to enhance export market development in diversification to leverage on the Intercontinental free trade agreements.

The AGI President, underscored the need for the dialogue, explaining that due to the critical role of Parliament in advancing the country's development agenda, it is crucial for the institution to periodically engage with industry in order to appreciate their concerns. 

He assured the gathering that the dialogue session will be institutionalised as a key event on the calendar of activities for the AGI. 

In his presentation to the business community, the MP for Suame and Majority Leader of Parliament, 

Hon. Osei Kyei Mensah Bonsu said, it is  important to appreciate the role of the private sector, as he provided the historical antecedents which had impacted positively and negatively on the sector.The Majority Leader, also outlined this government's policies that has created an enabling environment for the private sector to thrive; such as the 1D1F, the role of GIPC in facilitating investment and business growth. He hinted that  work is been done in parliament on the tax exemption bill.

Representing the Minority Leader, the MP for Ellembele and Ranking Member on the Trade, Industry and Tourism Committee of Parliament, Hon. Emmanuel Armah-Kofi Buah

expressed the need for government to provide sustainable, and not cosmetic enabling environment to enhance real growth, productivity and transformation of the private sector.

Dr. Peter Quartey, Director of Institute of Statistical, Social and Economic Research (ISSER), praised the AGI for the initiative to engage Parliament, academia and research bodies. Adding that,

"there is a lot we can learn together"

The climax of the forum was the questioning and answering session which saw participant asking pertinent questions affecting business growth in Ghana and proposing solutions to our economic challenges.

Other dignitaries present at the dialogue included Dr. Tony Oteng-Gyasi, Past President of AGI and Founder, Tropical Cable and Conductor Ltd, , and Dr. James Asare-Adjei, Past President of AGI and Founder of Asadtek Group Ltd.