The event, held in Takoradi, was on the theme: “Creating a Conducive Business Environment for Industrial Competitiveness: 24-Hour Economy in Perspective.”

Mr. Joseph C. Garbrah, the Western and Central Regional Chairman for the AGI, speaking at the opening of the AGM said the idea of creating a 24-hour economy should be far more than creating cities where shops, restaurants and bars could operate day and night, but must be one that would boost Ghana’s economic output by tripling the hours that vital industries and sectors operated.

He stated that in the past year, the country had witnessed a mixed, and rapid economic landscape ranging from escalating prices of oil, gas, and essential agricultural products to the gains made by the Ghana Cedi against major international trading currencies.
He noted that these factors had brought to the forefront the urgent need for innovative solutions and collaborative strategies to navigate this changing economic landscape.

Mr. Garbrah said: “It is during these times that the significance of creating conducive environment for industrial competitiveness to accelerate industrial development in the Western Region, and the country becomes ever more profound.”
He said the AGI, thus, settled on the theme for the AGM, noting that the critical point was about bridging the gap from the theoretical idea behind this new policy to its actual application to spur growth.

“Ghana with its wealth of natural resources and untapped potential, is poised for remarkable growth, and creating a conducive business environment is essential to steer our county towards a future of sustainable industrial development that benefits all,” he added.

Mr. Joseph Nelson, the Western Regional Minister, said the 24-Hour Economy policy represented a deliberate shift to reposition Ghana as a hub of productivity and competitiveness round-the-clock.

He said the programme was backed by a $4 billion investment target over four years and would begin with a government seed capital of $300-400 million designed to attract additional private sector funding.

The Minister stated: “The economy has shown signs of renewed resilience, because growth in the last year has provided a foundation, particularly with improvements in industrial activity.

“The new administration is determined to consolidate these gains and accelerate industrial expansion, ensuring that businesses can take advantage of the 24-hour economy framework.

Mr. Nelson commended the AGI for the chosen theme and assured the association of the government’s unwavering support to build a resilient economy that operated round-the-clock, created jobs for the people, and delivered prosperity for the nation.

Mr. Seth Twum Akwaboah, the Chief Executive Officer (CEO) of the AGI, stated that industries needed a consistent supply of high-quality raw materials to maintain production standards.

He called for partnerships within the supply chain to help ensure that raw materials met industry standards and supported continuous operations, saying; “It is collaboration that has the power to transform adversity into opportunity, helping our businesses thrive and our communities prosper.”