Business

GHC465 million released for start of ‘one-district, one-factory’ project

Alan Kyeremanten, Trade and Industry Minister

Government has released an amount of GH¢465 million for the commencement of one of its flagship job creation projects, one-district, one-factory.

The initiative, otherwise known as district enterprises, is to establish medium-to-large-scale factories or industrial enterprises that have the potential to fundamentally affect the economy of the districts.

Director of Policy Planning, Monitoring and Budget at the Ministry of Trade and Industry, Padi Adjirakor revealed this at the Ghana International Trade and Finance Conference in Accra on Monday.

He said it is the priority of the ministry to bridge the gap between demand and supply in the local industry, as a means of making the local industries viable.

“We realized that in most cases the industries are available but there are no raw materials. We want to bridge this supply and demand gap to ensure that there is enough raw materials for the industries that will be short listed for the project”, he said.

Establishment of refineries

He said government has plans of establishing refineries to go with the various factories, in refining raw materials, that will resuscitate the factories.

“We have the natural resources, manganese, aluminum, gold, crops and others. We only have to refine them and ensure their judicious use, not only in Ghana, but to the foreign markets,” Mr Adjirakor said.

By Grace Asare|3FM|3news.com|Ghana

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