The Chief Executive of M.Y. Caesar Ventures has said Government must take seriously the operations of thriving private businesses in the country and show true support by giving incentives and tax rebates so the entities can expand, employ more people and help stimulate the economy.
“Private companies are the backbone of every country’s economy, we need Governments support,” Herbal Dr. Caesar told Goldstreet Newspaper in an interview during the launch of a new clinic and a free health screening on World Labour Day at Mmrom on May 1.
The CEO indicated that even though the private sector has mostly been described as the engine for the country’s socio-economic development, “there are a lot of challenges so far as Ghana is concerned.”
Speaking on the challenges private industries have faced, Herbal Dr. M.Y. Caesar mentioned that frequent change of governments affects economic regulations bringing interruption which has dampened business stimulation interventions started by governments.
Herbal Dr. Caesar also observed the use of multiple currencies such as the US dollar, Euro and Pound in the country continues to adversely affect the health of the Cedi making it cumbersome for businesses to flourish.
On erratic electricity supply and the high cost of tariffs, the good doctor submitted local Small to Medium Enterprise (SMEs) reel under such financial demands.
Expectations from Government
“We employ more workers in the country’s economic environment. We do not have restrictions on employment therefore the more we produce the more we recruit people. I think should government not just pay lip service and actually allow the local business people to enjoy some of the incentives the foreigners get, more locals can be employed stemming the unemployment tide,” he rendered.
By Joe Marfo/Kumasi