<<Print>>

Immediate past president of the Ghana Chamber of Commerce and Industry, Seth Adjei Baah says it is not the best on the side of government to help Chinese companies relocate to Ghana when our local companies are struggling to fit into the economy to produce for consumption.

“Government must show much interest in building up our local enterprises, in order to encourage wealth that would remain in Ghana, but not to kill our indigenous businesses, since all our companies are not growing due to various economic challenges which can be addressed if government comes to their aid,” he said.

Speaking on ‘Market place’, a programme held on Multi TV, he said it is a big challenge to the nation if we do not put the necessary measures in place to help the local industries thrive to a greater level, which would help solve unemployment rate and also retain most of our resources back into the economy.

He indicated that “the relocation of the Chinese companies to Ghana would not make any difference since the indicators preventing business from attaining their aims are still in the system.”

“The only thing the Chinese company might have as an advantage is to borrow at a cheaper interest rate from their country to do business in Ghana, aside that all the others remain a disadvantage because when they are in Ghana the electricity rates and utility tariffs would be the same, leaving the cost of production high, unless we are told they would have a cheaper rate, “  he stated.

 So this would not make them competitive as it was when they were importing into the country. Our cedi would also continue to depreciate because they would not send their monies back in cadis’ after transacting their monies in cadis’.

However, government has already initiated steps to ensure the country takes maximum advantage of the opportunity of the Chinese companies relocating into the country following the current economic slump in their country.