Acrow Named Exporter of the Year at New Jersey International Trade Awards

Award recognizes Acrow’s continued growth in international markets

Acrow’s CEO, Bill Killeen, accepts NJITA Export Award (Image Credit – Chris Krusberg)

Acrow’s CEO, Bill Killeen, accepts NJITA Export Award (Image Credit – Chris Krusberg)

PARSIPPANY, N.J., June 06, 2023 (GLOBE NEWSWIRE) — Acrow, a leading international bridge engineering and supply company, is pleased to announce it was named Exporter of the Year at the New Jersey International Trade Awards (NJITA) ceremony on May 17 at the Galloping Hill Golf Course in Kenilworth, NJ. The awards honor excellence by New Jersey companies that have worked diligently to expand their exporting efforts, thus contributing to job creation and enhancing the state’s economic landscape.

The NJITA is a program of the New Jersey District Export Council (NJDEC). Regional District Export Councils (DECs) are organizations of leaders from the local business community, appointed by a U.S. Secretary of Commerce, whose knowledge of international business provides a source of professional advice for local firms. Closely affiliated with the Commerce Department’s Export Assistance Centers, the 61 DECs throughout the country support the U.S. Government’s export promotion efforts.

“We are delighted to be recognized by NJDEC for our continuing work in international markets,” said Mark Joosten, President and COO of the Acrow Group. “Acrow has been serving the transportation and construction industries since 1951, and our bridge solutions are now found in more than 150 countries across the globe. Our success in exporting not only supports jobs here in the United States, but also helps the communities we serve globally to access opportunity and expand prosperity through high-quality, sustainable bridge infrastructure.”

Added William Killeen, CEO of the Acrow Group, “Whether navigating urban highways, rural roads, or emergency conditions, people depend on safe, reliable passage in pursuit of education, healthcare and economic prosperity wherever in the world they live. Our mission to build bridges, connect people and leave positive legacies in local communities will continue to evolve in response to the needs of government agencies and contractors worldwide, and this award commemorates our achievement to date in pursuit of that aim.”

About Acrow
Acrow has been serving the transportation and construction industries for more than 70 years with a wide range of modular steel bridging solutions for permanent, temporary, military and emergency use. Acrow’s extensive international presence includes leadership in the development and implementation of bridge infrastructure projects in over 150 countries across Africa, Asia, the Americas, Europe and the Middle East. For more information, please visit www.acrow.com.

Media contact:
Tracy Van Buskirk
Marketcom PR
Main: (212) 537-5177, ext. 8; Mobile: (203) 246-6165
tvanbuskirk@marketcompr.com

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Getinge Selects Anaqua to Provide Single, Centralized IP Management Platform

Global medical technology company will use Anaqua’s AQX to help consolidate and coordinate the management of all its IP assets

BOSTON, June 06, 2023 (GLOBE NEWSWIRE) — Anaqua, the leading innovation and intellectual property (IP) management technology provider, today announced that global medical technology company Getinge has selected Anaqua’s AQX in order to consolidate the management of all its IP assets onto a single, centralized platform.

Founded in Sweden in 1904, Getinge provides hospitals and life science institutions in 133 countries with products and solutions that aim to improve clinical results and optimize workflows.

Anna Maria Lagerqvist Gahm, Head of IP & Digital Law at Getinge, said: “With our extensive range of products and solutions for intensive care, cardiovascular procedures, operating rooms, sterile reprocessing, life science and digital healthcare solutions and our strong international presence with operations in more than 40 countries worldwide, it was important to be able to improve the efficiency and coordination of our IP management by consolidating onto a centralized platform. AQX enables us to do that, while also providing highly integrated functionality in key areas such as analytics and invention management.”

Bob Romeo, CEO of Anaqua, said: “Getinge focuses on helping its customers save lives through the products and solutions it develops, and on achieving its goal of becoming the world’s most trusted and respected medtech company. We are delighted to be supporting Getinge on that journey by helping manage and protect the company’s valuable IP assets. Anaqua continues to invest in offerings to meet and exceed the ever-evolving demands of the world’s most innovative life science companies.”

About Getinge

With a firm belief that every person and community should have access to the best possible care, Getinge provides hospitals and life science institutions with products and solutions that aim to improve clinical results and optimize workflows. The offering includes products and solutions for intensive care, cardiovascular procedures, operating rooms, sterile reprocessing and life science. Getinge employs over 11,000 people worldwide and the products are sold in 133 countries.

About Anaqua

Anaqua, Inc. is a premier provider of integrated intellectual property (IP) management technology solutions and services for corporations and law firms. Its IP management software solutions, AQX and PATTSY WAVE, both offer best practice workflows with big data analytics and tech-enabled services to create an intelligent environment designed to inform IP strategy, enable IP decision-making, and streamline IP operations, tailored to each segment’s need. Today, nearly half of the top 100 U.S. patent filers and global brands, as well as a growing number of law firms worldwide use Anaqua’s solutions. Over one million IP executives, attorneys, paralegals, administrators, and innovators use the platform for their IP management needs. The company’s global operations are headquartered in Boston, with offices across the U.S., Europe, and Asia. For additional information, please visit anaqua.com, or on LinkedIn.

Company Contact:
Amanda Glagolev
Director, Communications
Anaqua
617-375-5808
aglagolev@anaqua.com

GlobeNewswire Distribution ID 8852728

Ai-Media to Launch AI-Powered Automatic Captioning Solution to Asian Market at BroadcastAsia

Ai-Media at BroadcastAsia 2023 in Singapore

Ai-Media at BroadcastAsia 2023 in Singapore, June 7-9

SYDNEY, Australia, June 06, 2023 (GLOBE NEWSWIRE) — Ai-Media, the leader in technology-driven live captioning, transcription, and translation solutions, is excited to announce its presence at BroadcastAsia in Singapore, where it will unveil its ground-breaking LEXI 3.0 automatic captioning solution to the Asian market.

Previously launched to the North American market at NAB Show 2023, LEXI 3.0 is the new and improved version of Ai-Media’s flagship automatic captioning solution. Powered by AI, LEXI 3.0 is the world’s most accurate and advanced automatic captioning solution, delivering results that rival human captions at a fraction of the cost.

During the BroadcastAsia, Ai-Media will also showcase its comprehensive range of captioning technology that boasts seamless integration with LEXI 3.0. Among the featured products is the new LEXI Viewer, an innovative HD-SDI device that empowers event organizers to effortlessly enhance accessibility by streaming captions to in-venue displays.

Additionally, Ai-Media will highlight its range of captioning encoders that ensure high quality distribution of audio and video via its iCap Cloud Network, the world’s largest, most secure caption delivery network. This includes iCap Alta, the broadcast industry’s leading IP encoder that provides efficient virtualized workflows for MPEG-TS and SMPTE-2110. Ai-Media will also showcase iCap Encode Pro, the HD-SDI encoder trusted by major TV networks worldwide that offers low operational cost & low-latency display.

BroadcastAsia will take place from 7 to 9 June at the Singapore EXPO in Singapore. Attendees can meet the Ai-Media team and discover its range of end-to-end broadcast captioning solutions at booth 6C3-08 in Hall 6.

Ai-Media’s Chief Sales Officer, James Ward said:

We are excited to launch LEXI 3.0 to the APAC market. AI-powered technologies are creating operational efficiencies and cost savings across countless industries and with Lexi 3.0 it is no different. LEXI 3.0 consistently delivers over 98% accuracy, meets all global regulatory requirements, enables customers to increase their reach and has cost savings of around 80% versus human captioning. We’re also able to leverage our decades of broadcast experience to ensure our captioning solutions are interoperable across different workflows, video standards and regions.

About Ai-Media

Founded in Australia in 2003, technology company Ai-Media is a global leader in the provision of high-quality live and recorded captioning, transcription, and translation solutions. The company helps the world’s leading broadcasters, enterprises and government agencies ensure high accuracy, secure and cost-effective captioning via its AI-powered LEXI automatic captioning solution. LEXI captions are delivered to millions of screens worldwide via Ai-Media’s range of captioning encoders and its iCap Cloud Network – the world’s largest, most secure caption delivery network. Globally, Ai-Media delivers 8 million minutes of live and recorded media monthly. Ai-Media trades on the Australian Stock Exchange (AIM). For more information, please visit Ai-Media.tv.

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Media Contact:
Fiona Habben
Senior Marketing Manager – Global
Fiona.habben@ai-media.tv

GlobeNewswire Distribution ID 8852879

UPDATE — VERSES, DENTONS US and SWF, Announce Collaboration on Landmark Industry Report “A Path to Global AI Governance”

Figure 1

The Road to Autonomy – Executive Summary

VANCOUVER, British Columbia, June 05, 2023 (GLOBE NEWSWIRE) — VERSES AI Inc. (CBOE CANADA:VERS) (OTCQX:VRSSF) (“VERSES” or the “Company”), a cognitive computing company specializing in the next generation of artificial intelligence (“AI”), announces the release in June 2023 of an AI industry report titled “THE ROAD TO AUTONOMY: A Path To Global AI Governance”.

The report combines the legislative expertise from Dentons, the world’s largest multinational law firm, and the AI acumen of VERSES with the guidance on technical standards from the Spatial Web Foundation to provide an in-depth analysis of the legal and key legislative trends from across the world on the state of AI regulation and recommendations for a path forward for government regulation of AI.

The report aspires to pioneer a fresh approach for legal practitioners, government regulators, and lawmakers, to keep pace with the rapid technological advancements and to guide their adaptation. The critical aspect of the report is to promote the adoption of standards for what VERSES considers “law as code.” The objective is to encode laws and legal principles into an understandable, machine-readable language that will facilitate the comprehension and autonomous compliance of AI systems with legal frameworks and social norms.

The report analyzes the unprecedented challenges presented by the emergence of AI and autonomous software, devices, and vehicles addressing fundamental questions like, “How can governments regulate AI systems that are on a path to regulating themselves? How can humans stay in the loop to ensure AI alignment with human values, principles, and laws, while guaranteeing fair and equitable services for all individuals and communities? And, how do we encode and enforce AI laws directly in AI systems themselves?

The report critically examines the transformative power of rapidly evolving technologies such as AI systems and their impending impact on legal, regulatory, and government sectors and accentuates the crucial need for developing and adopting standards that foster the understanding, governance, and interoperability of AI and autonomous systems. The report underscores the role of these technical standards in shaping dynamic and effective laws to regulate, oversee, and contemporize AI activities.

The goal of the report is to provide governments, regulators, and legislators with a pragmatic framework that not only informs but also provides a roadmap for policymaking, legislation, and compliance efforts in the field of AI. This is relevant to the flourishing autonomous vehicle industry, while also serving as a fundamental guide for all future AI-driven systems. Emphasizing the urgency of a globally unified, forward-thinking approach to AI governance, the report signals the vital need for standards development and deployment as the world navigates the pathway to Autonomous Intelligent Systems (“AIS”).

Significantly, the report points to the instrumental role of sociotechnical standards, as demonstrated by the work of the Institute of Electrical And Electronics Engineers IEEE P2874 Working Group. This initiative from the world’s largest association of technical professionals, underscores the importance of aligning AIS with human values and reducing the risk of harmful behavior.

The report also highlights the European Commission’s Flying Forward 2020 (“FF2020”) project for successfully implementing these standards. Led by VERSES and running on its KOSM platform, the FF2020 project featured autonomous AI-powered drones executing various tasks, such as medical supply delivery, building security inspection, and large crowd monitoring, all while adhering to local laws. The project exemplifies how the seamless integration of standards for AI with Urban Air Mobility and current legal and regulatory frameworks could improve the implementation of AI-powered services at city scale and beyond.

The report envisions the application of these standards to a host of sectors, including healthcare, education, finance, supply chain and more, paving the way for a smarter world with AI seamlessly operating behind the scenes.

AI is advancing at an unprecedented pace, raising concerns about the direction of its future trajectory. As AI evolves towards autonomous systems, the need for regulation becomes critical. We must address the challenge of regulating self-regulating AI to ensure alignment with human values and prevent potential risks. By implementing global technical standards and establishing an international AI regulatory framework, we can harness the immense benefits of AI while safeguarding against its potential perils,” stated VERSES CEO, Gabriel René.

We are thrilled to collaborate with VERSES on this report, as the challenge of regulating AI raises complex and often novel questions of law for our clients and regulators. We hope this report provides a new way of thinking about AI regulation, and provides important insights to key stakeholders who are wrestling with new AI regulatory frameworks and are trying to strike an appropriate balance between innovation and moderation,” said Peter Stockburger, Partner at Dentons US LLP.

In summary, the report calls for a safe, effective, and inclusive journey down the “Road to Autonomy,” ensuring that future AI systems are not just technically advanced but also aligned with the best interests of humanity, both now and in the future. With AI influencing every sector, this insightful report offers pragmatic recommendations for a more secure, innovative, and integrated AI-driven future. The full report will be available on the VERSES, DENTONS, and Spatialweb.org websites in June 2023, with the executive summary already available for preview.

The Road to Autonomy - Executive Summary

About VERSES

VERSES is a cognitive computing company specializing in next-generation AI. Modeled after natural systems and the design principles of the human brain and the human experience, VERSES flagship offering, GIA™, is an Intelligent Assistant for everyone powered by KOSMOS™, a network operating system enabling distributed intelligence.  Built on open standards, KOSM transforms disparate data into knowledge models that foster trustworthy collaboration between humans, machines, and AI, across digital and physical domains. Imagine a smarter world that elevates human potential through innovations inspired by nature. Learn more at VERSESLinkedIn, and Twitter.

About Dentons 
Dentons is designed to be different. As the world’s largest global law firm with 21,000 professionals in over 200 locations in more than 80 countries, Denton’s can help you grow, protect, operate and finance your business. Denton’s polycentric and purpose-driven approach, together with their commitment to inclusion, diversity, equity and ESG, ensures they challenge the status quo to stay focused on what matters most to you. www.dentons.com

About the Spatial Web Foundation 
The Spatial Web Foundation is a non-profit organization dedicated to the development and ethical use of technology, specifically in the creation and implementation of the Spatial Web protocol. The foundation’s core initiatives include developing open standards and protocols, promoting interoperability, and educating the public and policymakers. The foundation supports transparency and accountability in the development and use of technology, promotes responsible innovation, engages in dialogue and collaboration with various stakeholders, and adopts a proactive approach to addressing emerging ethical challenges. Ultimately, the Spatial Web Foundation seeks to create a more inclusive, accessible, and equitable internet that empowers individuals and communities to connect, create, and thrive.

On Behalf of the Company 

Gabriel René
VERSES Technologies Inc.
Co-Founder & CEO
press@verses.io

Media and Investor Relations Inquiries 

Leo Karabelas
Focus Communications
President
info@fcir.ca
416-543-3120

The NEO has not reviewed or approved this press release for the adequacy or accuracy of its contents.

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GlobeNewswire Distribution ID 8852483

Ugandan Soldiers Survive Six Days Hiding From Al-Shabab, Says Military

Ugandan soldiers hid for six days before being rescued after al-Shabab militants overran their base, a spokesperson for the Uganda Peoples’ Defense Forces (UPDF) told VOA Somali.

Brigadier General Felix Kulaigye said the four soldiers, including a lieutenant, survived by hiding within and around the base in the town of Bulo Marer, 110 kilometers south of Mogadishu.

He said the troops were found after the Ugandan contingent retook the base on Thursday.

“When we recovered, they were weak because they were only surviving on urine,” Kulaigye said.

He said each of the soldiers was hiding alone, in separate locations.

“They were weak out of hunger,” he said.

“The lieutenant had been wounded, his leg was in bad shape and they have been treated in hospital, but they are promising to recover very well.”

The news comes as President Yoweri Museveni disclosed that 54 Ugandan soldiers were killed in the May 26 attack.

“We discovered the lifeless bodies of fifty-four fallen soldiers, including a Commander,” Museveni said in a tweet.

Uganda sent a team led by land forces commander Lieutenant General Kayanja Muhanga to Somalia to investigate the attack.

Museveni singled out two commanders for making a “mistake” by ordering the soldiers to retreat.

“They have been apprehended and will face charges in the Court Martial,” Museveni said.

The al-Shabab militant group on Monday published a video purportedly from the raid on the UPDF base. In the video, the leader of al-Shabab, Ahmed Umar Abu Ubaidah, whose face is blurred, sends off the attackers.

Heartbreak

Officials said Ugandans were heartbroken and shocked by the news that 54 of their soldiers were killed.

Ugandan diplomat and former deputy head of the Africa Union Mission in Somalia, Simon Mulongo, who is now a security analyst, said people received the news of the attack and overrunning of the base by militants with shock.

“They felt their deaths were cruel,” he told VOA Somali.

“Uganda had never suffered such a deadly attack. There has been some attacks or attempted attacks and probing attacks, but we never lost some high number. And as such, it took us by shock.”

Mulongo also said the attack generated debate on whether to withdraw troops from Somalia or keep them to let the mission “pursue its objectives to its logical conclusion.”

“It’s a kind of mixed reaction but in both cases, it’s with pain,” Mulongo added.

Kulaigye observed similar mixed reactions.

“Some urge us to go on and make sure we revenge,” he said.

“Others felt the mission should get out because we are dying for other people, not for our country; and for us, we are saying we have to keep [troops] in [Somalia] so that the entire Africa is peaceful.”

Kulaigye said Uganda will not withdraw troops from Somalia unless the Africa Union asks them to do so.

“These casualties do not discourage our pan-African duty,” he said. “We do not take these attacks lightly; when you attack us, we bring the war to you as well.”

‘Total’ commitment

Mulongo says Uganda does not share a border with Somalia, but its commitment is “total.”

“We are there purely on humanitarian grounds, and [are the] best on pan Africanism as a driving philosophy,” he said.

“We believe that stable Somalia is the only alternative we can have of a neighbor with whom we can bloc in terms of economics, in terms of trade, in terms of technological transfer; and to benefit from them since they occupy a strategic position in the eastern region.”

Source: Voice of America

Somalia: Ten Al-Shabaab fighters defect, surrender to Somali Government

The security forces of the Southwest state of Somalia displayed 10 Al-Shabaab fighters who surrendered in Baidoa, the regional capital of Bay on Monday.

The surrendered militants said they fought for Al-Shabaab for several years and took part in high-profile wars and attacks in Somalia, mainly targeted military bases and convoys.

The regional authorities said the defectors have operated in Bay, Bakool, Lower Shabelle, Middle Shabelle, Hiran and Mudug, where Al-Shabaab is facing the government forces.

The Somali National Army welcomed the surrender of the Al-Shabaab fighters and the government gave amnesty to those who want to defect from the militant group.

Speaking to the media following their surprise ditch, the defectors said they made contact with SNA officers before their move that facilitated to gave themselves up peacefully.

“We wanted to live in peace with the rest of the people in Somalia,” said one defector.

In recent months, Al-Shabaab suffered defeats from its war with 3 sides, with US drones killing their militants and commanders as well as losing key towns to the Somali army

Source: Nam News Network

Poor quality antibiotics, source of antimicrobial resistance in Ghana – Scientist reveals

Professor Christian Agyare, a pharmaceutical microbiologist, says poor quality antibiotics on the market are suspected as one of the major causes of antimicrobial resistance in Ghana.

Quoting from various studies and research were undertaken by the Kwame Nkrumah University of Science and Technology (KNUST) College of Health Sciences and other scientists over the last decade, he said a biological assay on penicillins on some selected Ghanaian markets revealed a higher minimum inhibitory concentration (MIC) values.

This covered all evaluated penicillin samples compared to the reference samples, the pharmaceutical microbiologist disclosed.

Studies identified that out of the 54 samples evaluated, 61.1 per cent were within the British Pharmacopoeia (BP) and United States Pharmacopoeia (USP) monograph specifications.

Among the samples evaluated, amoxicillin showed a better quality of 82.8 per cent as compared to flucloxacillin (31.3 per cent) and cloxacillin (44.4 per cent).

Prof. Agyare, Provost of the College of Health Sciences, was delivering a paper on the topic: ‘Treating Non-Curable Infectious Diseases and Wounds with Natural Knowledge and Products’, at a Professorial Inaugural Lecture, organised by the KNUST, in Kumasi.

Antimicrobial resistance is the ability of microorganisms to persist or grow in the presence of drugs designed to inhibit or kill them.

This occurs when the bacteria and other microbes adapt and become less susceptible to the pharmacological treatment or intervention being offered.

The lecture looked at the various sources that could contribute to the development of antimicrobial resistance locally, and how natural products could be utilised to modulate antimicrobial resistance for improved therapeutic outcomes.

It dealt with antimicrobial use in aquaculture, animal husbandry and poultry, as well as the quality of selected antibiotics on the Ghanaian market.

On the antimicrobial use in animal husbandry and its implications, Prof. Agyare said many of the antibiotics used in animal husbandry were also essential medicines for use in humans.

‘Residual levels of these antibiotics in animal, poultry and fish products, water bodies and the environment are potential sources for the development of microbial resistance,’ he disclosed.

According to the Provost, a cross-sectional survey using questionnaires and semi-structured interviews was conducted among 400 poultry farms in the Ashanti, Brong-Ahafo and Greater Accra Regions.

Farmers, he said, reported the use of 35 different antimicrobial agents for the management of various conditions such as Newcastle, fowl pox, coccidiosis and coryza infections in their farms.

‘From these agents, 20 essential antibiotics belonging to 10 antibiotic classes were identified. The most frequently used antibiotics were tetracyclines (24.17 per cent), aminoglycosides (17.87 per cent), penicillin (16.51 per cent) and fluoroquinolones (10.55 per cent).

‘Only 63 per cent of the farms completed the recommended duration of antibiotic course, 58 per cent of them indicated that they do follow the recommended withdrawal periods and 88 per cent of the farmers sought veterinary advice prior to antibiotic administration.’ Prof. Agyare noted.

He said it was observed from the study that farmers had easy access to antibiotics and antibiotic-related information from veterinary offices, vet-chemical stores and mobile salesmen.

Touching on the resistance pattern of bacterial isolates of drinking water used in poultry production in the Ashanti Region, he said the study revealed that water used in poultry farms was the source of multi-drug resistant strains.

These include Escherichia coli, Salmonella typhi, Staphylococcus aureus and coagulase-negative staphylococci, which are responsible for various bacterial infections in humans and animals.

‘Most of these isolates were resistant to cephalosporins and penicillin.’ Prof. Agyare disclosed, stressing that almost 95 per cent of the bacterial isolates were multi-drug resistant.

It came to light that total coliforms and faecal Enterococci were present in 97 per cent and 56 per cent of the samples, respectively.

‘From these findings, measures should be taken to make these various sources of water safe for use in animal husbandry as these waters are a potential source of pathogenic and resistant bacterial strains which can cause infections in the animals and farm workers,’ the pharmaceutical biologist cautioned.

He said, prior to the identification of poor-quality antibiotics in the drug supply chain in the country, a study was conducted in three hospitals in Kumasi in the Ashanti Region.

The study identified antimicrobial resistance patterns in strains of Staphylococcus aureus, a resistance-challenging organism.

‘A total of 109 Staphylococcus aureus isolates were obtained from wound and nose swabs of 300 patients.

‘Vancomycin recorded the highest susceptibility of 74.1 per cent, followed by ceftriaxone with 67.6 per cent, erythromycin with 49.0 per cent, ampicillin with 47.0 per cent, and gentamicin with 44.4 per cent.

‘Of the 109 Staphylococcus aureus isolated from the three hospitals, 32.1 per cent exhibited multiple drug resistance.’ Prof. Agyare disclosed.

In a similar study carried out in some fish farms in the Ashanti Region, he said, there was varying resistance to more than 60 per cent of the antibiotics studied, including penicillins, tetracyclines, sulfonamides, macrolides, cephalosporins, quinolones and chloramphenicol.

‘The bacteria isolated from fish samples exhibited multi-drug resistance although farmers reported no recent use of antibiotics on their farms, which was very worrying,’ he said.

It is estimated that antimicrobial resistance causes around 700,000 deaths annually around the world, and all countries in the world are potentially affected.

The death toll could hit 10 million per annum by 2050 if the problem is not properly and adequately addressed, says the World Health Organisation (WHO).

Prof. Agyare described antimicrobial resistance as a global threat to humanity that must be addressed head-on.

‘Efforts must be made to stringently control access to antimicrobial agents that could be a saviour of mankind from the microbial apocalypse through the combined effort of regulators, prescribers, pharmacies and dispensary outlets,’ he advised.

‘Regulatory bodies must intensify surveillance to ensure that antimicrobial products on the market are of the required standard,’ he advised, saying there was a need for a well-defined policy direction to improve antimicrobial stewardship.

Source: Ghana News Agency

Economic recovery has no one-size-fit-all route – Veep

Vice President Dr Mahamudu Bawumia has reiterated the Government’s commitment to adopting distinct measures to fix the country’s economic challenges in the absence of a one-size-fits-all-route to economic recovery.

He said in that pursuit, the Government would ensure that the deployment of resilient and dynamic measures offered benefits to investors and the citizenry.

‘The world has realised that no one size fits all customised answer exists for the route to economic recovery thereby prompting countries to implement incipient systems and policies to resolve imminent difficulties, ‘ the Vice President said at the third edition of the Ghana Investment and Opportunities Summit in the United Kingdom (UK).

The theme for the event is: ‘Post COVID Economic Recovery: Opportunities for the Investor’.

The Summit is aimed at exploring new areas of cooperation between Ghana AND the United Kingdom.

Dr Bawumia noted that the introduction of monetary and fiscal interventions such as the ‘Gold for Oil’ programme-a novelty for Ghana – were designed to address the balance of payment crisis.

‘This intervention has been one of the most important macro-economic policies to deal with the rising price of fuel and its implication,’ he said.

Dr Bawumia observed that for the first time in recent decades, countries were witnessing the emergence of high inflation and financial stress at almost the same time, noting that: ‘The world continues to face difficult moments caused by several factors, including climate change, disruption of the supply chain in manufacturing goods as a result of the pandemic among others.’

Mr Yofi Grant, Chief Executive Officer (CEO) of the Ghana Investment Promotion Centre (GIPC), observed that despite the existing trade agreements and partnerships, the relationship between Ghana and the UK was yet to be optimised in a sustainable way.

He commended the Ghanaian community in the UK for being great ambassadors for the country and urged them to lead the way in forging mutually beneficial relationships in the diaspora.

He said the country had undertaken some structural reforms to remain competitive with efforts ‘to reset Ghana back to its resilience and robustness’.

Mr Grant noted that the introduction of reforms in Public Financial Management, State Owned Enterprises, taxes and revenue were some measures towards enhancing revenue mobilisation, promotion of judicious use of public funds and creation of a conducive environment for businesses.

Michael Oquaye Jnr., CEO of Ghana Freezones Authority, said the country was well positioned to host data processing centres and call centres due to its geographical advantage and high number of tertiary graduates with high proficiency in English as an international language.

Papa Owusu-Ankomah, Ghana’s High Commissioner to the UK and the Republic of Ireland, urged the participants to consider Ghana as a good place for investment.

He urged potential investors to deploy the requisite technology and modern digital approaches with the help of Ghanaian partners for a win-win outcome.

‘To our compatriot in the diaspora, I urge you to use your varied networks to garner and horn the appropriate skill set for our national development,’ he said.

Source: Ghana News Agency