Policy Objectives and Strategies The Objectives • To facilitate the development of the private sector by promoting an enabling environment, including a conducive legal and social framework, for private sector investments in industry • To transform Ghana’s economy from being dominated by the public sector to one that benefits the enterprise and dynamic of the private sector, supported by a efficient system of system administration • To promote and encourage the expansion and the contribution of the formal private sector to the economy • To maintain a fair and competitive private enterprise system which prevents the exercise of monopoly power • To strengthen the private sector in an active way to ensure that it is capable of acting effectively as the engine of growth and poverty reduction • To encourage productivity growth in all key sub-sectors of the private sector • To support the development of a capital and knowledge-intensive industries • To develop fiscal mechanisms that can quickly respond to the fast changing needs of an ICT based economy. • To implement reforms to position the economy to secure capital inflow, retain capital and encourage local and foreign direct investment in the area of ICT services and related products. • To encourage the development of favourable fiscal policies to ensure that Ghanaian ICT products and services are globally competitive. • To fuel the development of economic sub-sectors, asset accumulation, and fiscal activities that arise from ICT use • To promote investment, innovation, R&D and diffusion of ICTs within the economy The Strategies • Promote policy initiatives aimed at facilitating the active participation of small and medium enterprise (SMEs) in the local ICT industry and services sector • Promote and facilitate the development of the private sector to serve as a key driver for the development of the economy • Promote the development of a globally competitive local ICT industry for the development, production and the sale of information, knowledge, and technology products and services 45