The World Bank is to fund the construction of a Technology Park at the Ghana Free Zone area in Tema.
Mr Albert Kan-Dapaah, Minister of Communications who announced this, however, did not mention the amount involved in the project but gave the assurance that work on the project would begin before the end of this year.
He was inaugurating telecommunication and mechatronic laboratories and equipment of the College of Engineering of the Kwame Nkrumah University of Science and Technology (KNUST) in Kumasi on Tuesday.
The Ultra modern engineering laboratories which cost three million dollars was funded by the GETFUND, internally generated funds from the KNUST and assistance from outside organizations.
Mr. Kan-Dapaah explained that Ghana, alongside Senegal were recently selected by the United Nations Department of Economics and Social Affairs because of their strategic positions to set up Technology Parks to facilitate economic development of Africa.
In addition to this, the parks are to be used by Ghana and Senegal to support knowledge-based economies by bringing together academic, business and governmental organizations to enhance development of the African region", he stated.
The Minister was however not happy that even though such technology required massive research and development for its implementation and sustenance, very little is done in the form of research and development in the universities in the country.
Mr Kan-Dapaah stressed the need for more resources and time to be devoted by the universities to research and development to help propel the nation faster into progress and development.
Professor Kwesi Andam, Vice-Chancellor of the KNUST was not happy that even though science and technology formed the basis of any development, very little resources were injected into it by the Government.
He regretted that while some countries pumped about three percent of their Gross Domestic Product into such ventures, Ghana for last year, injected only .001 per cent into science and technology.