Takoradi, Dec. 17, GNA - Five institutions in the Western Region that have excelled in their social responsibilities to the communities in which they operate were at the weekend honoured at an awards ceremony at Takoradi.

The maiden regional corporate awards on social responsibility was organised by the Regional Chamber of Commerce and Industry to promote healthy competition and good corporate culture among industries in the region. Norpalm Ghana Limited, Volta River Authority, Ghana Rubber Estates Limited, SAMATEX Wood Processing Company and Goldfields Ghana Limited were the awards winners. They were presented with shields and certificates for providing water, health, education and other social facilities to enhance the lives of people.

Mr. Wilson Arthur Krofa, President of the National Chamber of Commerce and Industry, said the government had laid a firm foundation for steady economic growth. He urged entrepreneurs to take advantage of government policy interventions to grow their businesses and create more employment avenues for the youth.

Mr. Krofa mentioned some of the opportunities that would be created by the discovery of oil in the region and said they should not allow it to slip-by.

He said the Chamber of Commerce and Industry was still fighting to secure further reduction in bank interest rates to enable entrepreneurs to revive and expand their businesses. Mr. Krofa enumerated some of the business opportunities that could be exploited during the Ghana 2008 football tournament and advised businessmen who have not registered as members of the Chamber to do so.

Mr. James Kainyah, Regional Chairman of the Chamber of Commerce and Industry, said the fortunes of the Sekondi-Takoradi Chamber of Commerce and Industry that was founded in the pre-independence era started declining when the centre of gravity of business activities shifted to Tema, Accra and Kumasi.

He said banking and mining were the only sectors that had been able to withstand the "very difficult business terrain" of the region. "Business in most sectors had struggled to survive, while many had to fold up or relocate," he said.

Mr. Kainyah said with good economic policies, the trend had improved considerably and urged entrepreneurs to take advantage of the good economic climate to grow their businesses for the benefit of the people.

He said the Western Regional Chamber of Commerce and Industry instituted the annual corporate awards in recognition of the immense contribution of the various institutions to sustain the region's economy. Mr. Edwin Philips, Presiding Member of the Sekondi-Takoradi Metropolitan Assembly, urged businessmen to support government's efforts to make the country a better place for all.