Nana Kwabena Peprah, the Greater Accra Regional Chairman for the Ghana Union of Traders (GUTA), has announced that the official legislation required to implement the government’s 24-Hour Economy policy is prepared and slated for submission to Parliament upon its resumption from recess.
Mr. Peprah stated that comprehensive engagements have been conducted between GUTA representatives, other major business groups, and government officials. It is anticipated that once the legislative body resumes, the Bill will be formally presented, and its subsequent passage will allow the policy to become fully operational.
He made this disclosure during an interview on Nyankonton Mu Nsem on Rainbow Radio 87.5FM.
Following the government’s announcement of the “24-Hour Economy and Accelerated Export Development Programme” (24H+), GUTA recognized the policy’s economic importance. The Chairman confirmed: “We selected representatives to interact with the government, and these interactions and engagements have yielded positive results. We have gathered that the Secretariat is prepared to submit a document that will provide the legal framework for the policy to the House when Parliament resumes.”
The Union is officially backing the policy and remains optimistic that the provision of this legal basis will ensure its successful implementation and positive results.
The speaker asserted that establishing a robust legal and regulatory framework for the policy is crucial, as it would prevent any subsequent administration from undermining the initiative, thus ensuring its continued implementation.
He emphasised that a significant impediment to national development is the persistent pattern of successive governments discontinuing initiatives introduced by their predecessors.
“That practice has been a major threat to our developmental progress,” he noted. “With this legal backing, the policy’s implementation is definitively assured, even under a change of administration.”
The 24-Hour policy is specifically designed to create an enabling environment for both public and private sector businesses to operate around the clock, ideally utilizing a three-shift system. Key sectors targeted for this expansion include agriculture and agro-processing, manufacturing, healthcare, transport, digital services, and tourism.
Additionally, the 24H+ initiative aims to shift Ghana’s economy from one that is predominantly import-dependent to one that is self-reliant and export-led.
The government projects that the policy will generate up to 1.7 million jobs within four years, supported by an estimated $4 billion investment into the initiative. This funding will be partially covered by government investment ($300-$400 million) and complemented by strategic public-private partnerships.
By: Rainbowradioonline.com/Ghana