Government is set to improve the regulatory framework of registering businesses in the country to allow the private sector easily register their companies for smooth operations, the Minister Designate for the Ministry of Business Development, Ibrahim Mohammed Awal has assured.
According to him, the move is aimed at making Ghana a business-friendly nation where bottlenecks in registering entities and enterprises will be removed to expand economic activities.
Speaking at the Appointments Committee of Parliament, Mr. Awal assured that the pro-business agenda of the government requires a collaborative move with the private sector to guarantee economic growth.
He argued that it is important to measure the rate of growth of the private sector by monitoring the ease at which members of the sector register their activities for operations.
He pointed out that one of the cardinal objectives of the government is to encourage the private sector operate freely by registering their enterprises.
Citing the current regulatory framework as hindrance to business registration, Mr. Awal maintained that government will take a relook at the registration regime to serve as an avenue of encouragement the private sector to expand their operations.
“One of the earliest things we will do is to look at the regulatory framework. The regulatory framework in the sense that , anything that affects business registration must be streamlined,” he said.
He assured that if he is approved by parliament, the Ministry will work to facilitate a new regime that would enhance the speedy registration of all businesses and aid in accessing funds.
“Whether getting a bill of certificate to construct, registering your business or access to funding, The first major[work] we have, is to improve the regulatory framework to enable small businesses to grow, so we look at a collaboration with other sectors of the economy,” he stressed.
Mr. Awal observed that the ministry will not ignore the plight of the private sector in accessing cheap credit, since will ensure the growth of the private sector hence employment.
By: Lawrence Segbefia/Jessica Ayorkor Aryee/citibusinessnews.com/Ghana