Expansion Of Economy Necessary For Democratic Growth

The US Ambassador in Ghana says the expansion of the economy is necessary for democracy to take roots in the country.

Mrs Mary Carlyn Yates, who was speaking in Accra at a press briefing by a Trade and Investment Mission from New Jersey on Tuesday said microeconomic reform must necessarily take place as a sure means of preserving democracy. She said this could be done through trade and reform, which must take place through the sale of some parastatals, since government's role in running business was no longer attractive. She noted that state-owned companies are not a way of the future, adding that the US is pursuing avenues to facilitate the increased participation of the private sector in the national economy.

Mrs Yates said the US would work closely with the Ghana government to bring about increased development of the private sector thus making the lives of Ghanaians more bearable and enjoyable. She said this they are doing through the USAID, which has put about 50 million dollars into Ghana's economy and other institutions in the last decade. We would continue to encourage trade missions into Ghana and by this bring change and hope to Ghanaians.

The Chief Executive Officer of the New Jersey Commerce and Economic Growth Commission, Mr William D. Watley said the team of 25 have found keen interest in Ghana's free market economy and successful democratic reforms. He said they are interested in the healthcare, transportation and telecommunications as priority areas. He said the team is also interested in exploring opportunities in the area of mining and construction equipment, environmental services, security and safety equipment. Other areas are port management and development, power and electricity generation.

New Jersey is reputed for having the world's most innovative and highest quality pharmaceutical and medical technology plants. Delegation members are holding a one-on-one sessions with their Ghanaian partners under the auspices of the American Chamber of Commerce. The New Jersey Commerce and Economic Growth Commission would be in the country from May 10-14 and would meet Ghanaian partners to develop common grounds of cooperation.