BTA2023 The Minister for Finance, Dr. Cassiel Ato Forson, has announced that the government’s 24-hour economy policy will soon be formally presented to Parliament for approval.
During the presentation of the 2025 Budget Statement and Economic Policy on Tuesday, March 11, Dr. Forson emphasized the Mahama-led National Democratic Congress (NDC) government’s commitment to the policy, describing it as a key initiative to boost economic productivity and job creation.
Purpose of the 24-Hour Economy Policy
The policy encourages businesses across various sectors to operate round the clock, aiming to:
- Maximize infrastructure and resource use
- Drive economic expansion
- Create employment opportunities
- Enhance Ghana’s global competitiveness
Dr. Forson stated that the policy is part of a broader economic transformation agenda focused on:
- Promoting industrial growth
- Attracting investment
- Enhancing economic resilience and sustainable growth
Incentives and Collaboration
To ensure the smooth implementation of the policy, the government will provide incentives for businesses willing to operate beyond traditional working hours.
Dr. Forson also called for Parliament’s support, emphasizing that the policy’s success relies on strong collaboration between the public and private sectors.
Next Steps
A comprehensive framework detailing the operational structure and implementation strategy of the 24-hour economy policy will be submitted to Parliament in the coming weeks for further deliberation.
