Finance Minister moves to cut imports, boost local jobs
By Nii Trebi Hammond
Finance Minister Dr. Cassiel Ato Forson has pledged to spearhead a policy initiative aimed at restricting the importation of goods that can be produced locally, as part of the government’s broader plan to protect domestic industries and boost local production.
The policy, which is still in its formative stages, is expected to help stimulate job creation, enhance local manufacturing capacity, and address Ghana’s trade imbalance by reducing over-reliance on imported goods.
Dr. Forson made this announcement during a high-level engagement with the Plastic Manufacturers Association of Ghana, where stakeholders in the plastics sector expressed deep concerns over challenges affecting their operations.
Among the issues raised were the over-concentration of taxes on a few players, the dumping of low-quality foreign products, the misuse of import exemptions, and difficulties faced in accessing export markets.
In response, Dr. Forson acknowledged the challenges and assured the Association of the government’s commitment to supporting local industries. He emphasized that policies going forward would aim to create a more competitive, fair, and enabling business environment.
“We cannot continue to import what we can produce in Ghana. It’s time to change direction and give our industries the protection and support they deserve,” the Minister stated.
He also touched on the government’s economic recovery goals, which include lowering inflation, stabilizing the cedi, and reducing the cost of doing business at the ports, especially those linked to high exchange rates.
Additionally, Dr. Forson announced plans to collaborate closely with the Ghana Revenue Authority (GRA) to address revenue leakages at the country’s ports — a long-standing issue that continues to undermine domestic revenue mobilization.
Industry players have welcomed the Minister’s pronouncements and are hopeful that the new policy direction will lead to concrete reforms, reduce the cost of operations, and position Ghanaian products more competitively both locally and abroad.
