Business News of Thursday, 22 January 2015
Economist Kwame Pianim has said Ghana’s exorbitant freight cost regime is a disincentive to doing business in the country.
“Ghana’s freight cost about 40 percent more than that of the UN and if you see successful countries like the US and China, they have one thing in common: labour transportation that makes goods move around at a cheaper price,” Pianim said at the 3rd edition of the Ghana economic outlook and business strategy conference of 2015 held in Accra Wednesday.
It was on the theme: “Diversifying Ghana’s economy through sustained export trade.”
The former Flagbearer-Aspirant of the main opposition New Patriotic Party said to diversify Ghana’s economy through sustained export trade, there must be supportive infrastructure such as port facilities that must be used for trade rather than collecting revenue.
He said goods that come to the ports must be cleared quickly and not allowed to be at the ports for weeks.
Pianim believes the situation could be reversed through reliable and competitive infrastructure.
The World Bank Doing Business report last year said the upgrading of infrastructure at Ghana’s ports made it easy for trading across borders.