The Vice President, Dr Mahamadu Bawumia, says the government of Nana Addo Dankwa Akufo-Addo wants the private sector to operate in a predictable, stable business environment.

According to him, a stable business environment “will allow the private sector invest, expand, and be profitable, while also creating jobs and opportunities for our people, and therefore further commit to reviewing and/or amending all relevant laws and regulations that all too often stifle investments and the flow of business and transactions”.

The vice president was speaking at the commissioning of a railway sleeper plant at Dawa, Prampram on Thursday Dr Bawumia said the importance of a well-run railway sector to the economy cannot be overstated.

“An effectively-run railway sector in Ghana will contribute to economic growth by significantly lowering the cost and time for moving goods and people, and by extension, ensuring economies of scale and reducing domestic production costs. it will also open up the country and help enhance market access and opportunities,” he added.

He said government in reviewing its Railway Master Plan, has tried to ensure maximum private sector participation in railway infrastructure and commercial rail services development.

Dr Bawumia said the Atlantic Concrete Sleeper Plant gives expression to the President’s desire to transition the Ghanaian economy in the direction of greater local value addition. “It is a much welcome project by LMI Holdings, and it will complement Government’s job creation initiatives,” he said.

Dr Bawumia said railway sleepers are a critical component of Railway infrastructure, adding that when operating at full capacity, the Atlantic Concrete Sleeper Plant will save Ghana up to US$27 Million per annum in foreign exchange.