government Business Regulatory Reform Strategy
government Business Regulatory Reform Strategy

The Minister of Trade and Industry Mr. John Alan K. Kyeremanten, has indicated government’s intention to initiate the annual presidential business summit in 2018, in deliberations with the private sector, on the importance of national issues in interactions with the President and key executives on their concerns and to come into consensus on key performance indicators by both government and the private sector.

The Minister was speaking at the launch of government Business Regulatory Reform Strategy in Accra at the Labadi Beach Hotel, with the theme, “The Road to Sustainable Reforms: Government’s Business Regulatory Strategy”.

In the presentation, Mr. Kyeremanten, noted that, the summit would be led by an Inter-Ministerial Facilitation Committee (IMFC), which is a higher-level policy decision making and implementation oversight committee, consisting of Ministers responsible for relevant MDAs.

This BRR team, he said, would be headed by a senior civil servant, established within the MOTI to coordinate the implementations. And would also be supported by embedded technical advisors and short-term consultants but largely staffed by civil servants, to build the capacity and retain institutional memory on the long-term.

According to him, it will see to the review of progress made by institutions under their preview, facilitation of expedited action to resolve implementation bottlenecks, coordination of recommendations to Economic Management Team (EMT) and Cabinet where necessary.

The sector Minister explained that, the BRR is estimated at approximately $17m for the next three years. It however covers seven components with targeted initiatives, inventory and secure e-registry of business regulations, centralized public consultation portal, and rolling review of business regulations and many more.

However, Mr. Alan Kyeremanten said, the first component is targeted on easy business reform initiative, which is a coordinated national programme that would upgrade Ghana’s performance in key indicators and annual ranking on the World Bank’s ease of doing business index.

Mr. Kyeremanten said, this was important since it focuses on the selected regulations, important to the life cycle of domestic small and medium sized businesses. The indicators measured in the index he said are, starting a business, dealing with construction permit, resolving insolvency and to name a few.

Meanwhile, the second component, which is the inventory and secure e-registry of business regulations, he said is also to build a secure centralized electronic registry of all legal documents and related forms to provide businesses with an easily accessible, one-stop repository of up-to-date information on all business regulations in force in Ghana.

Whereas the centralized public consultation portal, is an interactive platform for the public to engage government on business-related policy, legal and regulatory changes, and the regulatory relief component is about government giving grant target reliefs for small and medium enterprises from regulatory requirements at early stages of development to stimulate higher levels of entrepreneurship and job creation.

“To ensure the rollout of the BRR Programme, a number of actions have been taken. 8 working Groups have been established to make recommendations for reform business processes in 8 selected Doing Business Indicators, involving 31 institutions and 42 private representatives,” Mr. Alan Kyeremanten noted.

The Country Director of World Bank, Mr. Henry Godfrey Rupiny Kerali, on his part at the launch, said, this move by the government of Ghana, is a good initiative which would help to boost the country’s ranking on the World Bank’s ease of doing business index.

Mr. Henry Rupiny however, indicated that, the World Bank will remain committed with their support for Ghana in the areas of business regulatory reform agendas, to improve the business environment, to make it more friendlier.

By:Sammy Adjei/Newsghana.com.gh

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