Digitization is the key to economic development – Dr Boako

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Leading member of the New Patriotic Party, Dr Gideon Boako, said digitization is the key to rapid economic development.

According to him, embracing digital technologies meant providing strategic drivers to create an open, participatory and trustworthy public sector, in order to improve social inclusion and government accountability.

Speaking at a press conference at the nuclear power plant headquarters last Friday, Dr Boako, who is also the spokesperson for Vice President Dr Mahamudu Bawumia, said digitization would also bring together government actors and non-governmental organizations to develop innovative approaches to national development and long-term sustainable growth.

Improve the economy

Addressing how Ghana’s digitization program would improve the economy, Dr Boako explained that while theoretical explanations for the link between digitization and economic growth were clear and established, the practical consequences of this link do not seem clear to some.

“In trying to appreciate how the deployment of digital technologies can help reduce the cost of goods and services, we need to understand how increases in the price of goods occur through exposure to exchange rates.

You have to understand that one of the ways in which countries’ currencies are exposed is by increasing debt levels, ”he said.

According to Dr Boako, as Ghana’s debt levels and debt service burden increase, the country needs more foreign exchange to settle its debt service obligations when they come down. deadline.

Solutions

He said the solution proposed by the NPP government was to use digital solutions such as the National Identity Card system, adding that the start of this commitment was the aggressive way the government executed the registration of the card. national identity.

In addition, he said, the government incorporated the national identification and replaced it with the GRA tax identification number.

“As stated by the vice president, this integration automatically increases the number of Ghanaians with tax identification numbers from four percent to 86 percent,” he said.

Dr Boako said this initiative has broadened the tax base and allowed many Ghanaians to be identified as potential taxpayers.

“We have taken a step forward following the challenge by the vice president at GRA to make tax filing processes easier and simpler to complete using a mobile app device,” said he declared.

Digitization and job creation

Dr Boako said there was also controversy over how digitization could help create jobs or reduce the unemployment rate.

“I dare say that digitization creates many jobs in the private and public sectors,” he added.

He explained that the concept of digital technologies came with what could be considered as virtual means of commerce, in other words electronic commerce.

He said the volumes of trading done through this technological medium and the number of people employed in this space could be mind-blowing.


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