Minister for Finance, Dr. Cassiel Ato Forson, has announced that government will formally present its proposed 24-hour economy policy to Parliament for approval.
He made this known on Tuesday, March 11, during the presentation of the 2025 Budget Statement and Economic Policy.
According to Dr. Forson, the policy is a key initiative under the Mahama-led National Democratic Congress (NDC) administration aimed at boosting economic productivity by encouraging businesses to operate around the clock.
“The Mahama-led NDC government is committed to the pursuit of the 24-hour economy policy,” he stated, adding that it has the potential to create jobs and foster sustainable economic growth.
The policy is designed to address Ghana’s structural economic challenges by promoting an integrated and efficient industrial economy that maximizes the use of national resources, capital, and labor.
Dr. Forson further disclosed that enabling legislations, including the Labour Act and the Ghana Investment Promotion Act, will be reviewed to align with the policy’s objectives.
He assured Parliament that the necessary measures are being put in place to ensure a smooth rollout, including incentives for businesses that adopt the 24-hour operational model.
The government believes that this policy will serve as a catalyst for industrial expansion, increased investment, and economic transformation.
The Finance Minister urged Parliament to support the initiative when it is formally presented, emphasizing that its success will require collaboration between the public and private sectors.