Cabinet approves automobile industrial policy

Cabinet has approved the draft automobile industrial policy which has been designed to guide the establishment of vehicle assembling plants and manufacturing firms in the country.

The policy is expected to go through parliamentary scrutiny before becoming a working document.

Deputy Minister of Trade and Industry, Robert Ahomka Lindsay said, the government is engaging all stakeholders in order to have a complete policy for the automobile industry and other industrial sectors of the economy.

“We are still engaging and as you may be aware, the policy has received approval from cabinet already but they have made some recommendations which we will be adding as part of the law. Very soon we should have other engagements then finally a complete policy” he noted.

He was speaking at the sidelines of a stakeholder forum on regulatory impact assessment in Accra.

The government has begun a stakeholder’s engagement to assess the impact of regulatory reforms on businesses operating in the country.

The regulatory impact assessment is expected to guide the government in drafting other policies and programs that are aimed at improving the business environment of the country.

Ahomka Lindsay says the forum is very critical to the industrialization agenda of the government.

The program is supported by the Department of International Development of the UK in partnership with Jacobs Cordova and Associates, an international regulatory reform agency.

“This is to ensure that the rules that govern business activities have a basis in sound economic, social and environmental analysis.

It is also to ensure that the country’s regulations support economic transformation and job creation” Deputy Minister of Trade and Industry, Robert Ahomka Lindsay explains.

Stakeholders at the engagement included the Ghana Revenue Authority, Registrar General Department, AGI and other private sector agencies.