Private Sector Key to Success of 24-Hour Economy Rollout – President Mahama
Former President has emphasized that the private sector will play a crucial role in the successful implementation of the proposed 24-Hour Economy policy in .
According to him, the full realization of the policy will depend largely on the active participation of businesses, investors, and industries across the country.
What the 24-Hour Economy Means
The 24-Hour Economy concept is designed to encourage businesses and institutions to operate continuously in shifts throughout the day and night. The policy aims to maximize productivity, create more jobs, and stimulate economic growth.
If successfully implemented, it will allow sectors such as manufacturing, transportation, health services, hospitality, and security to operate beyond the traditional working hours.
Role of the Private Sector
Speaking on the policy, Mahama stressed that government alone cannot drive the initiative. Instead, collaboration with the private sector is essential.
He explained that businesses will be expected to:
- Expand operations to include night shifts
- Invest in infrastructure and technology
- Create more employment opportunities
- Increase productivity and efficiency
The involvement of private companies will help ensure that the policy delivers tangible economic benefits.
Expected Benefits of the Policy
The proposed system is expected to bring several advantages to the Ghanaian economy, including:
- Increased job creation for young people
- Higher productivity across industries
- Improved economic growth
- Better utilization of infrastructure and national resources
Supporters of the policy believe it could transform Ghana into a more competitive economy if implemented effectively.
Government’s Commitment
Mahama assured that government policies and incentives would be introduced to support businesses willing to operate within the 24-hour economic framework. These may include improved security, stable electricity supply, and business-friendly regulations.
Conclusion
The success of the 24-Hour Economy initiative will largely depend on strong cooperation between government and the private sector. With proper planning and investment, the policy could significantly boost employment and economic development in Ghana.