‘Regulate Foreign Investment’ | Economy

Managing Director of the Ghana Oil Company Limited (GOIL) and Chartered Institute of Marketing Ghana (CIMG) Marketing Man of the Year, Patrick Akorli, has urged government to consider protecting some sectors of the economy from foreign investment.

Mr. Akorli made the call in a presentation on Wednesday in Accra during an evening lecture organized by CIMG under the theme, “Believing in Ghana: Creating Leaders for the Nation’s Development.”

According to him, the move was necessary considering the country’s ‘limited’ human and financial capital.

He indicated that “to ensure the survival of the country’s economy through policy considerations, government should consider which area of economy we can protect considering our ‘limited’ human and financial capital.’

“Should every investor have access to all aspects of another nation’s business? How do we get indigenous industries to become competitive? What degree of protectionism is needed?” he queried

Mr. Akorli made the call at a time when government has declared Ghana open for business in a bid to attract foreign investors in the country, as it commences its industrialization campaign under the One District, One Factory flagship project.

He appealed to Ghanaians to adopt a positive leadership approach wherever they find themselves in order to promote the socio-economic development of the country.

“Right leadership is being aware of your needs – as a community – and having the right person in place to pull all the elements together for a desired solution that leads to equitable distribution of the benefit for the people and the community, and creates good will for generations to come,” according to Mr Akorli.

He added that “it is what we call a legacy…something you do today that future generations come to thank you for and must be done with a clear awareness of how it positions you as a people in the global environment.”

In attendance were Minister For Business Development, Mohammed Awal, retired Ghanaian international boxer, Azumah Nelson, traditional leaders, among others.


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