AGI President, Dr Humphrey Ayim-Darke, who made the call, said the AGI expected that beneficiaries would be moved to more beneficial incentives under the 24-hour economy policy to prevent disruption to business activities.
He said the AGI welcomed the government’s 24-hour economy agenda as a policy to enhance productivity and position Ghana as a competitive hub in the regional value chain.

“We opine, however, that it goes beyond just keeping businesses open around the clock. It needs a deliberate promotion of resilience, efficiency and global competitiveness.

“For businesses, it means ensuring reliable energy supply, efficient transport and logistics and supportive policy frameworks that make continuous production feasible. Incentives for industry is a necessity, such as a tax exemption regime that can trigger the expansion of business operations.”

Dr Ayim-Darke was addressing the opening session of the Ghana Industrial Summit and Exhibition and Best Forum 2025 in Accra.

The three-day event being held from September 16 to 18 is in collaboration with Ministry of Environment, Science and Technology through its biannual environment science and technology programme and support of other stakeholders.
It is on the theme: “Unlocking Industrial Potential: Strategic Approaches for Ghana’s Economic Transformation.”

Dr Ayim-Darke called for strategic integration and alignment among all government agencies to deliver the results of this landmark policy for transformational economic value chain of the 24-hour economic plans.

Touching on the recent appreciation of the cedi, Dr Ayim-Darke said it has had a mixed impact.
He said while importers of raw materials and finished goods had benefited from reduced foreign exchange, local manufacturers were increasingly under pressure due to the surge in the availability and access to cheaper imported parallel products.

“This development is creating an uneven playing field, making it difficult for domestic industries to remain competitive,” adding that the parallel smuggled imports such as beverages from neighbouring countries were disrupting the local production of companies like Guinness, Coca-Cola and other associated beverage companies.

“This parallel import bypass standard regulatory checks or evade appropriate duties, giving them an artificial cost advantage while local manufacturers who comply with stringent quality and tax requirements find themselves at a disadvantage. We urge the regulatory bodies to enforce their various mandates to correct such market failures and we can attest to a number of cartels that have ganged up and disrupting our operations through the border,” he added.

Dr Ayim-Darke said industrialization was not just an economic aspiration but a national necessity.

“No country has achieved prosperity without establishing a robust industrial base. For Ghana, the opportunity is clear.

Our natural resources, human capital and the strategic location position us as a potentially prominent manufacturing and processing hub in West Africa.”

The challenge, however, lies in unlocking this potential in a way that transforms our economy, creates decent jobs and enhances competitiveness, he said.
He called for The AGI fair electricity tariff pricing, infrastructure and asset investment in the energy sector to ensure competitiveness and reliability for industry to run and create jobs.

“Without deliberate policy and regulatory interventions, local industries risk losing competitiveness which could derail industrialization agenda and long-term economic transformation,” he added.

He urged government to consider enforcing strict import standards to cap unfair competition from low quality or unregulated parallel imports and incentivize local manufacturers.