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Business News of Monday, 21 August 2017

Source: www.ghanaweb.com

Government's corruption fight will accelerate infrastructure development - Planning Minister

The Planning Minister Professor Gyan Baffour has said that Ghana’s developmental woes began when the country turned its focus away from infrastructural development which had the potential of transforming the country and making it one of the most developed countries on the continent.

According to the Planning Minister, who further stressed that during independence, Ghana could not compete with countries such as Malaysia and Singapore partly because of poor infrastructural development.

Mr. Baffour noted that one of the factors that led to the slow infrastructural growth is the massive corruption that has plagued the sector.

To this end, Prof. Gyan Baffour says the government has committed itself to ensuring that the infrastructural development of the country is tied up with its current plans and vision.

Speaking at the Ghana Investment Summit organized by the GIPC, Prof. Baffour identified four pillars government intends to strengthen which has been a hindrance to the country’s development over the years.

"The current government recognizes that it requires doing things differently to change the course of infrastructural development in Ghana,” he stated.

1. Curbing the massive corruption in the infrastructure process and to ensure Ghana receives value for money in its infrastructural projects.

2. Pursuing integrated development where these capital developments are well planned to complement each other and facilitate high level of utilization in support of industry, agriculture and services sector; planning and investment in any infrastructure investment must go through a thorough financial and economic analysis to access the financial viability and financial feasibility; consciously engaging the private sector in the planning, development, and management of infrastructure.

The Ghana Investment Summit seeks to bring together investors and CEOs of different organizations to explore business opportunities in the country.