The United States Ambassador to Ghana, Virginia Palmer, has expressed satisfaction with President John Dramani Mahama’s renewed focus on improving the country’s business environment.
She described the move as essential for Ghana’s economic recovery and a positive signal to both local and foreign investors.
Speaking on Channel One’s The Point of View on Monday, May 26, Ambassador Palmer noted that strengthening the business climate would support Ghanaian exporters and companies while attracting more U.S. investment.
She said she has consistently engaged with the government on the need to create a more investor-friendly environment and was pleased to see the issue take centre stage in President Mahama’s inaugural address.
“Improvement to the business climate in general helps Ghanaian exporters, Ghanaian companies that are here and help encourage US investment in Ghana, and I have been talking with the government of Ghana about that my entire tenure, and I am very pleased to see President Mahama make that his number one priority, I think.
“He talked in his inaugural address about improving the business climate as being essential to Ghana’s economic recovery,” she stated.
She highlighted specific issues such as the need for reforms at the Ghana Revenue Authority, better access to credit, timely payment of government arrears, and the enforcement of contract agreements. According to her, these are key areas that can help businesses thrive.
“There are some things that can happen to the Ghana Revenue Authority, with access to credit, with a number of things like contract sancity and payment of government arrears that will help make this more attractive place to invest for American and Ghanaian companies,” she added.
Ambassador Palmer emphasised that when small businesses are paid on time, they are more likely to succeed, but delays in payments could cause them to collapse. She reiterated that creating a reliable and transparent system would benefit both Ghanaian and American businesses looking to invest in the country.
“If small Ghanaian businesses are paid on time, they will thrive and if they are not paid on time, they can’t survive,” she said.
Source: graphic.com.gh
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