Our major problem is the influx of Chinese businesses – GUTA Prez

GUTA President Dr. Joseph Obeng has expressed concern over the dominance of Chinese retail businesses in Ghana, urging amendments to labor laws.

He noted that local businesses have lost about 40% of market share to Chinese companies, which import 80% of goods compared to 20% by locals.

Speaking on TV3's Hot Issues, Dr. Obeng attributed the rapid depreciation of the cedi to these foreign businesses.

He called for regulations to ensure Chinese companies bring capital into Ghana before importing goods.

He also dismissed claims that local businesses overprice goods, highlighting the competitive challenges they face.