Minister of Trade and Industry, Kobina Tahir Hammond, has said his outfit will submit the Business Regulatory Reforms Commission Bill to Cabinet to be laid before Parliament for deliberation and onward passage into law next year.

The programme is expected to improve the quality and transparency of regulatory administration in Ghana and create a predictable business regulatory environment conducive for private sector development and make Ghana the most business friendly country in Africa.

Mr Hammond was speaking at the 2nd UK-Ghana Chamber of Commerce (UKGCC) End-of-Year Gala Dinner and Awards last Saturday at the Movenpick Ambassador Hotel in Accra where he said: “I am happy to announce that I would be submitting to cabinet for consideration and approval, the Business Regulatory Reforms Commission Bill which will then be laid in Parliament for passage into law hopefully in its first session in 2024.”

Economic Transformation

Mr Hammond, who is also the Member of Parliament (MP) for the Adansi-Asokwa Constituency in the Ashanti Region, stated that the President, Nana Addo Dankwa Akufo-Addo, whose clarion call had always been for a transformational economic development of the country, launched a multi-faceted Industrial Transformation Programme geared towards expanding and diversifying the manufacturing base and incentivising investment in transformative, economic and social outcomes.

“The transformation is about creating an environment where businesses can thrive, where innovation is encouraged and where opportunities are abundant,” he said.

He said it was in the spirit of transformation that “we have committed to demystifying the business regulatory regime in the country to ensure that business is conducted with relative ease.”

The Trade Minister added that the event was an opportunity to celebrate the bilateral trade and investment relations which were deeply embedded in Ghana and UK’s shared past, present and future.

“Our ties are cemented in history, language and common interest in democracy, freedom, rule of law, inclusive development and mutually beneficial trade and investment outcomes.”

Support for businesses

For his part, UKGCC Executive Council and Founder, Blue Skies Ghana Ltd, Anthony Pile, said the chamber would continue to provide exceptional support for member businesses, fostering unfettered growth as they work to promote trade between Ghana and the UK.

“I can also assure you that UK- Ghana business community has an outstanding private sector voice in the form of the UKGCC with its remarkable trajectory of growth and a relentless commitment to its members' prosperity and development,” he gave an assurance.

On challenges, he said, since the last gala dinner and awards held in 2018, events within the country and globally such as the COVID-19 did not make it conducive for it to be repeated until this year.

“The UKGCC, however, has not stagnated in the intervening period. I am proud to say that we have grown from strength to strength, and this is perfect timing for a celebration. A celebration of the resilience and tenacity of the UKGCC and our members,” he said.