A Deputy Minister for the Ministry of Trade and Industry, Herbert Krapa says Ghana’s vision to turn around its industrialisation drive is on course and will soon yield positive results for the betterment of the country.
He has thus urged all stakeholders to fully deliver on their mandate to ensure that the government’s aim of revamping local industries is realised.
“A critical assessment shows that the 10-Point Industrial Transformational Agenda of the Nana Akufo-Addo led government, which is being spearheaded by the venerable Alan Kyerematen is coming together,” Mr. Krapa said during his vetting last Tuesday while naming the National Industrial Revitalisation Programme, One District One Factory (1D1F), Strategic Anchor Industries, Industrial Parks and Special Economic Zones and Development of small and medium-scale enterprises (SMEs) as part of the agenda.
Krapa further mentioned the Export Development Programme, Enhancing Domestic Retail Infrastructure, Business Regulatory Reforms, Industrial sub-contracting exchange and Improving Public-Private sector dialogue.
Touching on the One District One Factory programme, Krapa who is a specialist in development finance said 232 factories had been created through the initiative.
According to him, 76 were fully running and had subsequently provided 140,000 direct and indirect jobs.
107, he said, are at different stages of construction. He also noted that about 49 have been approved and operation would begin before long.
Mr. Krapa while expressing his commitment towards working closely with the sector Minister, Alan Kyerematen to attain a “revolutionary vision of the government”, thanked him and his members of staff for the progress made thus far.
On plans for the National Industrial Revitalisation Programme, Mr. Krapa said, some revival support has been given to companies which hitherto were viable but for some circumstances experienced a bit of economic distress.
Similar support was extended to Small and Medium Enterprises (SMEs) to enable them scale up and increase their human resource base.
In furtherance, the nominee disclosed that the now Ghana Enterprise Agency formerly NBSSI is being positioned to cushion SMEs which contribute about 70 percent of Ghana’s GDP.
Such enterprises will also be given the needed assistance to increase revenue generation and provide more jobs, he said.
That’s not all, the Strategic Anchor Industries, according to the Deputy Minister, will be equipped to boost diversification in Ghana’s export space.
As part of the grand industrialisation agenda, Mr. Krapa hinted at the government’s move to establish 16 industrial parks in each region across the country.
This falls in line with Special Economic Zones for non-traditional industries such as agro-processing, pharmaceutical, integrated aluminium, iron and steel industry and automobile and vehicle assembly.
More of the industries will also focus on the textiles, garments and apparel sector.
Other areas to be revived are industrial salt, petrochemicals, manufacturing of machines and machinery components as well as industrial starch and oil palm industry.
Mr. Krapa is convinced that the totality of these moves have led to some significant industrialisation strides saying “industrialisation may not happen overnight, but the building blocks are being put in place to ensure the vision sees the light of day.”