{"id":158372,"date":"2024-03-04T12:11:27","date_gmt":"2024-03-04T12:11:27","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/03\/04\/agi-bemoans-rising-cost-of-business\/"},"modified":"2024-03-04T12:11:27","modified_gmt":"2024-03-04T12:11:27","slug":"agi-bemoans-rising-cost-of-business","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/03\/04\/agi-bemoans-rising-cost-of-business\/","title":{"rendered":"AGI Bemoans Rising Cost Of Business"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Seth Twum-Akwaboah<\/strong><\/p>\n<p>\u00a0<\/p>\n<p>The Association of Ghana Industries (AGI) has indicated that the rising cost of doing business is making the country lose out on its business attractiveness.<\/p>\n<p>AGI Chief Executive, Seth Twum-Akwaboah, who disclosed this, said the \u2018unfriendly tax regime\u2019 faced by businesses was a contributory factor.<\/p>\n<p>He said that compared to Ghana\u2019s peers in the region, the country was the most expensive to do business in the sub-region.<\/p>\n<p>\u201cSome enterprises in their attempt to cut their cost of operations have had to move some of their operations outside the country so they can remain competitive as a business,\u201d he announced.<\/p>\n<p>Speaking to PM EXPRESS recently, he said \u201cGhana is quiet an expensive country in terms production and we are not improving that much,\u201d adding that \u201csome of these businesses have built a model where they can move their operations elsewhere, in terms of where it is cheap to do business.\u201d<\/p>\n<p>He continued that there was the need for the government to take a second look at some of its policy measures to help improve the business condition of the private sector.<\/p>\n<p>Mr. Twum Akwaboah said industries were not asking for protectionism, but rather policies that would help in the growth of local manufacturing firms.\u201d<\/p>\n<p>This was because some firms have been forced to lay off workers as part of efforts to stay in business.<\/p>\n<p>The AGI CE further said another factor that was affecting the operations of businesses was the cost of finance in the country adding that most enterprises were struggling because they could not afford the high cost of borrowing to sustain their operations.<\/p>\n<p>According to him, some institutions that have been established to help lessen the cost of finance over the years have also not been helpful hence the situation.<\/p>\n<p><strong>BY Samuel Boadi<\/strong><\/p>\n<p><!-- AI CONTENT END 2 -->\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Seth Twum-Akwaboah \u00a0 The Association of Ghana Industries (AGI) has indicated that the rising cost of doing business is making the country lose out on its business attractiveness. AGI Chief Executive, Seth Twum-Akwaboah, who disclosed this, said the \u2018unfriendly tax regime\u2019 faced by businesses was a contributory factor. He said that compared to Ghana\u2019s peers [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":158373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-158372","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AGI Bemoans Rising Cost Of Business - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/03\/04\/agi-bemoans-rising-cost-of-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AGI Bemoans Rising Cost Of Business - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Seth Twum-Akwaboah \u00a0 The Association of Ghana Industries (AGI) has indicated that the rising cost of doing business is making the country lose out on its business attractiveness. 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