Two leading figures of the New Patriotic Party (NPP), Hon. Kennedy Agyapong and Hon. Bryan Acheampong, have outlined ambitious economic blueprints they believe could transform Ghana’s economy if adopted.

Kennedy Agyapong has pledged to adopt the “Asian Miracle Model”, a framework credited with powering the rapid rise of countries such as Japan, South Korea, Singapore, Malaysia, and Vietnam.

The model emphasises stable macroeconomic policies, strong private sector participation, export-led growth, low inflation, robust infrastructure, and the creation of national champions in industry.

Key priorities under this approach include:

Poverty reduction and rising living standards

Job creation through technology, agriculture, and tourism

A resilient security system and effective management of natural resources

Development of powerful road and transport networks to boost trade and tourism.

On the other hand, Bryan Acheampong has proposed adopting the “Mixed Economic Model”, a system widely practised in the world’s leading economies, including the United States, China, the United Kingdom, Germany, and Canada.

His version of the model seeks to combine the strengths of capitalism and socialism, with a private-sector-led economy contributing up to 90% of GDP.

It would be anchored on strong macroeconomic fundamentals, free markets with government regulation for the public good, and massive investments in education, healthcare, agriculture, tourism, and innovation.

Highlights of Bryan Acheampong’s plan include:

Stable exchange, interest, and inflation rates to create a business-friendly climate

Promotion of artificial intelligence and technology-driven growth

Strong social welfare systems and poverty reduction strategies

Efficient allocation of resources and fair competition to curb monopolies

Job and wealth creation through active private sector participation.

Commenting on the proposals, Dr. Razak Kojo Opoku, Founding President of UP Tradition, argued that if the NPP embraces either of these economic models, it would provide a sustainable pathway for development and prevent the party from having to apologise to Ghanaians for economic challenges in the future.

Both models, he noted, represent proven global strategies that could help Ghana overcome its economic hurdles and achieve lasting growth.