Ghana is really open to foreign trade which the government wants to create an economic environment that facilitates the development of the private sector thus guaranteeing transparent trades and promoting competitiveness in foreign markets.

Although recent analyses on foreign entrepreneurship in Ghana attempt a departure from Ghanaian opposition and present Ghana’s response as more nuanced. Little is known of the characteristics and considerations that shape the complex positions of Ghanaians to foreign entrepreneurship in the distribution sector. Some Ghanaian traders in response to the increased number of foreign traders in Ghana argue that the presence of these foreign traders is a treat to the growth of their businesses thereby opposing their presence in Ghana.

Over the last decade and a half, there has been an increasing global interest in Ghana’s economy which outside Africa is mostly dominated by Chinese nationals and in Africa dominated by Nigerians. The increase in foreign traders in Ghana has called for an intervention by the government and other business stakeholders to help curve the situation in order to ensure an increased growth in Ghanaian businesses.

For this reason, the Public Relations Officer (P.R.O) for the Ministry of Trade and Industry in Ghana, Mr. Prince Boakye Boateng, has lamented on how foreign traders are taking advantage of the open foreign trade in Ghana and flouting the business laws.

According to the P.R.O, his ministry will not sit and watch foreigners take over the Ghanaian market whilst Ghanaians suffer. Mr. Boateng said they have the backing of the President of Ghana, Nana Akuffo Addo to check registration of businesses and whether they pay taxes to the government. He added that any foreigner who wants to do business here in Ghana must at least have a million dollars and a minimum of twenty workers before they can establish businesses.

Speaking with Captain Smart on Angel FM, the P.R.O said they are going to the markets on the 10th August to close the businesses of foreign nationals who do not have warrant to operate, since it is against the Ghana Investment Promotion Centre (GIPC) law.


SOURCE: www.kantankatv.com | Prince Nicholas Agboli


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