President John Evans Atta Mills on Wednesday said there was the need to take a fresh look at the private sector to give it the pride of place in building a robust economy.
He said it was time the co-operation between Government and the private sector entered a new phase to chart a better course for manufacturing industries.
The President made the statement when a three-man delegation from the executive of the Association of Ghana Industries (AGI) called on him at the Castle, Osu, in Accra.
The delegation, led by its President Mr Tony Oteng Gyasi, paid a courtesy call on President Mills to congratulate him on assumption of the high office and to re-assure him of their readiness to team up with the Government to deliver jobs, development and prosperity.
President Mills underscored the role of the private sector, especially the local manufacturing industries.
He observed that the underperformance of some industries required that Government and the private sector entered a new phase of co-operation.
The President said his promise to the private sector was be a pact that would be worked out.
President Mills assured the private business community of the cooperation of his Administration, declaring, "You have in me a friend."
The President recalled that he used to sit in meetings of the AGI when he served as Vice President and gave indications that those meetings would be reactivated.
He said Wednesday's meeting should be the beginning of regular interaction between Government and the private sector.
Mr Gyasi recalled that the President pledge in his inaugural address to ensure that local industries did not suffer from undue competition from cheap imports was a show of his commitment to the development of the private sector.
The other members of the delegation were Nana Owusu Afari of Afariwaa Farms and Mr Cletus Kosiba, Chief Executive Officer of AGI.