THE Minister of Trade and Industry, Mr Kobina T. Hammond, has said his outfit will submit the Business Regulatory Reforms Commission Bill to Cabinet to be laid before Parliament for deliberation and onward passage into law next year.

The programme is expected to improve the quality and transparency of regulatory administration in Ghana and create a predictable business regulatory environment conducive for private sector development and make Ghana the most business friendly country in Africa.

Mr Hammond was speaking at the 2nd UK-Ghana Chamber of Commerce (UKGCC) End-of-Year Gala Dinner and Awards last Saturday at the Movenpick Ambassador Hotel in Accra where he said: “I am happy to announce that I would be submitting to cabinet for consideration and approval, the Business Regulatory Reforms Commission Bill which will then be laid in Parliament for passage into law hopefully in its first session in 2024.”

Economic Transformation

Mr Hammond, who is also the Member of Parliament (MP) for the Adansi-Asokwa Constituency in the Ashanti Region, stated that the President, Nana Addo Dankwa Akufo-Addo, whose clarion call had always been for a transformational economic development of the country, launched a multi-faceted Industrial Transformation Programme geared towards expanding and diversifying the manufacturing base and incentivising investment in transformative, economic and social outcomes.

“The transformation is about creating an environment where businesses can thrive, where innovation is encouraged and where opportunities are abundant,” he said. 

He said it was in the spirit of transformation that “we have committed to demystifying the business regulatory regime in the country to ensure that business is conducted with relative ease.”

The Trade Minister added that the event was an opportunity to celebrate the bilateral trade and investment relations which were deeply embedded in Ghana and UK’s shared past, present and future.

“Our ties are cemented in history, language and common interest in democracy, freedom, rule of law, inclusive development and mutually beneficial trade and investment outcomes.”

Support for businesses

For his part, UKGCC Executive Council and Founder, Blue Skies Ghana Ltd, Anthony Pile, said the chamber would continue to provide exceptional support for member businesses, fostering unfettered growth as they work to promote trade between Ghana and the UK. 

“I can also assure you that UK- Ghana business community has an outstanding private sector voice in the form of the UKGCC with its remarkable trajectory of growth and a relentless commitment to its members’ prosperity and development,” he gave an assurance.

On challenges, he said, since the last gala dinner and awards held in 2018, events within the country and globally such as the COVID-19 did not make it conducive for it to be repeated until this year.

“The UKGCC, however, has not stagnated in the intervening period. I am proud to say that we have grown from strength to strength, and this is perfect timing for a celebration. A celebration of the resilience and tenacity of the UKGCC and our members,” he said.

Award winners

Tullow Oil PLC and Guinness Ghana Ltd picked two awards each at the second edition of the UKGBA.

Tullow Ghana received the Economic Impact award in recognition of its exceptional contribution to the Ghanaian economy while they won the Outstanding UK Business in Ghana award due to its exceptional growth, size and portability in the Ghanaian business environment.

On the other hand, Guinness Ghana Breweries Plc won the Social Impact award for their initiative focused on promoting local economic development and job creation for farmers as well as the Tax Compliance award for consistently adhering to tax regulations, thereby positively contributing to the mobilisation of tax revenue in Ghana

Other winners were the Ghana Commercial Bank Plc who won the Dynamic Member award for their exemplary commitment to upholding ethical business practices, integrity, and a collaborative approach aimed at strengthening the business relationship with the Chamber and Standard Chartered Bank Ghana Plc was adjudged the Decades of UK-Ghana Business Partnership award for their remarkable 127 years of operation in Ghana, demonstrating their enduring commitment to the UK-Ghana trade and investment relationship.

Five other institutions were recognised under the UKGCC Founding Member category and they were ABSA Bank Ghana Limited, G4S Security Services Ghana Limited, Hogan Lovells, Vivo Energy Ghana as well as Vodafone Ghana.

In attendance were the UK Deputy Trade Minister for Africa, Alistair Long, the British High Commissioner to Ghana, Harriet Thompson, Ghana’s High Commissioner to the United Kingdom, Papa Owusu Ankomah, and Executive Director of UKGCC, Adjoba Kyiamah.

Source: GraphicOnline