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Business News of Monday, 13 July 2009

Source: GNA

Economic Growth in Volta is slow - AGI

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Ho, July 13, GNA - The Volta Region placed either last or penultimate in a number of economic growth indicators, according to a 2008 Association of Ghana Industries (AGI) survey. Findings of the survey, which covered issues ranging from Technology usage to Enabling Business Climate was tabled at a stakeholders meeting on the proposed Volta Trade and Investment Fair, scheduled for November, by Mr Seth Quarshie Yawlui, an Advisor to Netherlands Development Organization.

He said based on the survey, the Volta Region was the least in terms of the "Ease of Doing Business in Ghana". However, Mr Yawlui observed that the region recorded remarkable performances in the areas of "Industrial Output" and "VAT Receipts." "This shows that the region has a higher potential to support viable business investment if the main issues that are bottlenecks are improved," Mr Yawlui stated.

He called for "changes in some of the business trends to improve productivity, employment and the fortunes of the business practitioners."

Mr Yawlui said the key areas of business in the region were Tourism and Agriculture, which remained largely untapped. The stakeholders in the fair are SNV, Netherlands Development Organization (Eastern Portfolio), Volta Foundation, a development advocacy NGO, Volta Regional Coordinating Council, Ho Polytechnic and the National Board for Small Scale Industries. The rest are the Municipal and District Assemblies, Volta Regional House of Chiefs and the Association of Ghana Industries (Volta Region). The survey shows that the private informal sector in the region provides about 82.9 percent of jobs; the private formal-10.4 per cent with the public sector, taking the rest. 13 July 09

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