36

(1) The State shall take all necessary action to ensure that the national economy is managed in such a manner as to maximize the rate of economic development and to secure the maximum welfare, freedom and happiness of every person in Ghana and to provide adequate means of livelihood and suitable employment and public assistance to the needy. (2) The State shall, in particular, take all necessary steps to establish a sound and healthy economy whose underlying principles shall include - (a) the guarantee of a fair and realistic remuneration for production and productivity in order to encourage continued production and higher productivity; (b) affording ample opportunity for individual initiative and creativity in economic activities and fostering an enabling environment for a pronounced role of the private sector in the economy; (c) ensuring that individuals and the private sector bear their fair share of social and national responsibilities including responsibilities to contribute to the overall development of the country; (d) undertaking even and balanced development of all regions and every part of each region of Ghana, and, in particular, improving the conditions of life in the rural areas, and generally, redressing any imbalance in development between the rural and the urban areas; (e) the recognition that the most secure democracy is the one that assures the basic necessities of life for its people as a fundamental duty. (3) The State shall take appropriate measures to promote the development of agriculture and industry. (4) Foreign investment shall be encouraged within Ghana, subject to any law for the time being in force regulating investment in Ghana. (5) For the purposes of the foregoing clauses of this article, within two years after assuming office, the President shall present to Parliament a co- ordinated programme of economic and social development policies, including agricultural and industrial programmes at all levels and in all the regions of Ghana. (6) The State shall afford equality of economic opportunity to all citizens; and, in particular, the State shall take all necessary steps so as to ensure the full integration of women into the mainstream of the economic development of Ghana. (7) The State shall guarantee the ownership of property and the right of inheritance. (8) The State shall recognise that ownership and possession of land carry a social obligation to serve the larger community and, in particular, the State shall recognise that the managers of public, stool, skin and family lands are fiduciaries charged with the obligation to discharge their functions for the benefit respectively of the people of Ghana, of the stool, skin, or family concerned and are accountable as fiduciaries in this regard. (9) The State shall take appropriate measures needed to protect and safeguard the national environment for posterity; and shall seek co- operation with other states and bodies for purposes of protecting the wider international environment for mankind. (10) The State shall safeguard the health, safety and welfare of all persons in employment, and shall establish the basis for the full deployment of the creative potential of all Ghanaians. (11) The State shall encourage the participation of workers in the decision- making process at the work place.