Economic diversification: This term refers to expanding the range of industries or sectors within an economy. By diversifying its economic activities beyond just one or two sectors (such as agriculture), Ghana can reduce its vulnerability to external shocks.
Foreign direct investment (FDI): FDI is when foreign companies invest in businesses or projects within another country. Increased FDI can bring in capital, technology transfer, job opportunities, and stimulate economic growth in Ghana.
Trade liberalization: This term describes the removal or reduction of trade barriers such as tariffs and quotas. By opening up its markets to international trade, Ghana can benefit from increased competition, access to new markets for exports, and improved efficiency.