Business News of Tuesday, 21 February 2017
Government will build industrial estates to drive the economic agenda of creating jobs and diversify the economy, Trade and Industry Minister Alan Kyerematen has revealed.
The industrial estates are expected to be created across all 10 regions in the country. According to Mr. Kyerematen, the estates will be necessary for the government to devolve its industrial growth plan from the major cities.
Citing examples from Asia, the sector minister affirmed the contribution of the industrial sites to economic growth.
“We are looking at building one industrial estate together with the private sector in each of our 10 regions. When you look at the case study of Asia and many other parts of the world, industrial estates have been a major instrument for industrial transformation,” he stated.
Mr Alan Kyerematen outlined the plans when he engaged the European Union Ambassador to Ghana, William Hanna, on building partnerships to achieve economic development.
Already, the NPP’s industrial expansion drive is expected to be on course with the rolling out of the much talked about ‘one factory, one district’ policy agenda.
The government, among others, also plans to review regulations to create the enabling business environment for private sector businesses to grow.
Key among them will be the annual interactions by the President with the private sector. The platform is expected to provide an interface for both parties to discuss policies that will support economic growth.
Other ambitious plans by the NPP government involve the creation of a pharmaceutical hub in Ghana. The government will also intensify its quest to develop the country’s exports through the establishment of the continental free trade yet to be finalized within the African sub-region.