Report By: Business Desk
Ghana is poised to take a giant leap towards enhancing its economic competitiveness with the establishment of the Ghana Oil and Bulk Distributors (GOLDBOD).
The new entity, which is expected to be operational soon, will play a critical role in strengthening the country’s oil and bulk distribution sector, making Ghana a more attractive destination for investors and businesses.
According to Lawyer Sammy Gyamfi, the establishment of GOLDBOD is a key component of the government’s strategy to boost Ghana’s economic competitiveness.
“GOLDBOD will help to ensure that Ghana’s oil and bulk distribution sector is efficient, effective, and competitive, making it an attractive destination for investors and businesses,” he said.
For the realization of the above, Lawyer Sammy Gyamfi explained that, a fruitful engagement was held with key stakeholders, including the Ghana Chamber of Bulk Oil Distributors (CBOD), Ghana Association of Forex Bureaux (GAFORB), and representatives from the Bank of Ghana (BoG).
The meeting, held under the direction of the Minister of Finance and Governor of the BoG, discussed the operational framework of GOLDBOD and explored opportunities for collaboration between GOLDBOD, CBOD, GAFORB, and BoG.
The ultimate goal is to achieve exchange rate stability, aligning with President Mahama’s vision.
This development is expected to have a positive impact on Ghana’s economy, as a stable exchange rate will help to boost investor confidence, promote economic growth, and reduce the cost of doing business in the country.
The establishment of GOLDBOD is also expected to strengthen the country’s oil and bulk distribution sector, which is critical to Ghana’s economic development.
By providing a framework for the distribution of oil and bulk products, GOLDBOD will help to ensure that these products are delivered efficiently and effectively to meet the needs of the economy.
Lawyer Sammy Gyamfi noted that the continued strategic engagements with stakeholders will be crucial in realizing the objectives of GOLDBOD.
He further emphasized that the government is committed to working with all stakeholders to ensure that GOLDBOD is established and operationalized successfully.
The development of GOLDBOD is a key component of the government’s strategy to achieve exchange rate stability and promote economic growth.
With the support of stakeholders, Ghana is poised to make significant progress in achieving its economic development goals.
Source: www.thenewindependentonline.com
