A draft report that will see 70 percent of government of Ghana-funded projects go to local contractors has been completed, and is expected to be submitted to Cabinet and Parliament for approval soon.

The new policy, government believes, will help grow local businesses.

It is aimed at empowering indigenous contractors, and will also reserve a 30% quota of all contracts for women.

Trade and Industry Minister Alan Kyerematen – who appeared before Parliament to answer questions – said the draft report has been finalised, and outlined a number of steps government is taking to push through local consumption of goods and services.

“The ministry has completed a draft report to support a new policy on Ghanaian participation in the award of contracts by national and local governments. The objective, among other things, is to ensure that 70 percent of all procurement to be financed from public funds should be sourced from locally produced goods and services.

“The ministry will be submitting the relevant legislation to Cabinet and Parliament for approval, which will significantly enhance the effective promotion and consumption of locally produced goods and services,” he said.

He also indicated that the ministry is taking decisive steps to enhance the country’s capacity to deal with dumping as a means of ensuring fair competition for locally produced goods.

In pursuit of this, five people have been appointed by the President to serve as Commissioners for the Ghana International Trade Commission, which will soon be formally inaugurated.

“All these measures have been put in place to ensure that locally produced goods are able to compete in our markets, and that government procurement is used strategically to promote private sector development in Ghana.”