Economic experts have called on the government to prioritize local businesses and strengthen export competitiveness as part of a broader effort to reset Ghana’s economic trajectory.
Speaking at the National Economic Dialogue, Mavis Owusu-Gyamfi, President of the African Centre for Economic Transformation (ACET), emphasized the need for strategic policies that support homegrown enterprises. She argued that while Ghana actively attracts foreign direct investment (FDI), local businesses often struggle to access similar incentives.
“Offer investment incentives to your large local businesses the same way you do for foreign direct investments,” Owusu-Gyamfi advised. “Remember, your large businesses have an option of where else to invest, so let’s set a priority in supporting them.”
Her remarks reflect growing concerns that Ghana’s heavy reliance on FDI may be hindering the growth of domestic enterprises, which have the potential to drive long-term economic transformation.
Discussions at the dialogue, which focused on key economic challenges and sustainable growth strategies, underscored the urgency of diversifying the economy and boosting the competitiveness of Ghanaian exports. Policymakers are now expected to consider these recommendations as part of their efforts to reshape the country’s economic future.
