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Monday, September 13, 2010

Ghana not too conducive for business - WEF

Finance Minister Dr. Kwabena Duffuor
Finance Minister Dr. Kwabena Duffuor
Ghana appears to be losing out on its competitiveness as a conducive environment for people wanting to do business according to the latest Investment Climate Survey by the World Economic Forum.

The Executive Opinion and Global Competitiveness report ranks Ghana 114 out of 139 countries, scoring just about half of the maximum 7 points.

The survey covered some developments in 2009 based on publicly available data. The results also included responses from some 13,500 people.

This comprised chief Executives of both small and big businesses. The latest rankings mean that Ghana has gone down by 4 places from its 110th position in 2008.

The Gobal Competitiveness Report rankings was based on some 12 indicators. These include institutions operating in the country, infrastructure, macroeconomic environment, health, primary and higher education and training.

The rest are; goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation. The country also appears not be doing so well among its peers as Ghana placed 18 out of 39 countries in Africa, coming after countries like; Rwanda, Benin, Senegal and Cameroon. This is Ghana’s worst showing after it first participated in the survey in 2008. In the overall rankings the United States was overtaken by Switzerland as the most competitive country.

Source: Joy Business/Myjoyonline.com/Ghana

1 comment:

Ghana Pundit said...

Were we expecting a good performance when nothing is being done to in the country in that direction? Can someone tell me which of the ministries in the country is performing? How many of the many radio discussions is focused on the economy? Politics seems to have eaten the better part of Ghanaians. Nothing apart from politics (NDC and NPP) is discussed in the country. Any sign that we will do better next year? I doubt it. It is a disgrace and shameful that we are retrogressing as a nation. Who will invest his money in a country where the Chairman of the ruling government wants to clean up the judiciary? Who will invest his money in a country where the footsoldiers are threatening mayhem? Ghana is the only country I know where the leaders are not serious about anything except politics. I sometimes laugh when I listen to some of the unintelligent analysis and arguments made on some of the radio stations. We are not going to go anywhere unless we change the unfruitful and baseless arguments that dominate our media.

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