Government has approved GH₵456 million for the implementation of the one district, one factory programme; and GH₵256 million for the resuscitating of 100 commercially viable but distresses companies, Padi Adjirackor, Director, Policy, Planning, Monitoring, Evaluation, and Budgeting at the Ministry of Trade and Industry has revealed.
Speaking at the maiden edition of the Ghana International Trade and Finance Conference (GITFiC) 2017, Mr. Adjirackor said plans are far advanced to roll out the implementation of the district factories project following the approval of the funds.
“The money that we budgeted for the one district, one factory has been granted and now we are in the process of formulating the policies.
As you may be very well aware, the ministry is the primary agency of government to facilitate development of the government transformation agenda of making sure that every district will have at least a flagship project. So we are welcoming proposals from all companies and the ministry will sit down with you to prosecute it,” he said.
He further stated that government has also appropriated GH₵256 million for reviving and expanding hundred industries under the Association of Ghana Industries (AGI) in a bid to fulfil its campaign promise of creating jobs for the youth.
Commenting on this development, the Chief Executive Officer of the Association of Ghana Industries, (AGI), Seth Twum Akwaboah, welcomed the announcement and said his outfit is still working hard to identify the industries.
“I am happy to hear that the money is ready because it is an issue we are discussing for months on how we can resuscitate industry.
AGI was taxed to identify companies that will qualify under the arrangement. The key objective is job creation, so it will be open to all manufacturers that have potential for job creation,” Mr. Twum Akwaboah stated.