Government to boost private sector participation with Mutual Prosperity Dialogue

The government has announced the formulation of a Mutual Prosperity Dialogue, an initiative aimed at roping in domestic and foreign private investments toward promoting growth.

Presenting the mid-year budget review in Parliament on Monday, Finance Minister Ken Ofori-Atta stated that the Mutual Prosperity Dialogue is part of measures to move the economy on the path of recovery and growth following the IMF programme.

“Government’s Mutual Prosperity Dialogue with the private sector, will seek to facilitate the ease of doing business in order to crowd-in private domestic and foreign investments.”

The Dialogue will “enhance the ease of doing business and crowd-in significant private sector (domestic and foreign) investment, first from existing companies and also a global search for new entrants,” he added.

According to him, the Mutual Prosperity Dialogure is part of a broader growth strategy that will be finalised in August 2023 and that will promote shared growth based on job creation, food security, exports, and import substitution.

Key elements of the growth strategy, Mr. Ofori-Atta observed, include accelerating agriculture scale-up, supporting industrial parks, promoting tourism, digitalizing public services, expanding housing delivery, and enhancing financial intermediation, which are key strategies for economic growth, innovation, and job creation.