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Influx of
cheap foreign products crippling SMEs in the country – Addae
Kumasi, March 5, GNA - Mr Kwasi Addae, a Businessman has
appealed to Ministry of Trade and Industry to institute
measures to regulate activities of foreign traders to stop
the influx of cheap foreign products and safeguard local
industries in the country.
Mr Addae said the presence and activities of foreign
traders, fronting as investors, were crippling operation of
indigenous Small and Medium Scale (SMEs) Enterprises.
“The cheap products, they import are gradually pushing local
entrepreneurs out of business, this is unhealthy for the
country’s economic growth,” he said.
Mr Addae, Managing Director of Odike Ventures in Kumasi, was
addressing a press conference in Kumasi on Thursday to
highlight the constraints and challenges facing SMEs in the
country.
He said although the private sector had been acknowledged as
“the engine of growth to the economy” not much attention had
been paid to the sector by the government.
Mr Addae suggested to policy makers to critically assess and
identify for support economic production areas, where
Ghanaian companies had competitive advantage on the
international market.
He stressed the need for foreigners to invest in industry to
create employment for the youth and discouraged from
importing into the country poor quality goods.
Mr Addae said government should deal with the problem to
enable the SMEs play their expected role to revamp the
national economy.
GNA |
