The One District One Factory (1D1F) initiative of the Akufo-Addo administration is industrializing Ghana, Minister-designate for Trade and Industry Kobina Tahir Hammond has said.
Answering questions at the Appointment Committee of parliament on Monday, February 20 during his vetting, he indicated that 100 factors are currently operating under the initiative with 150 others at various stages of completion.
“The ID1F is fundamental towards industrialization,” the Adansi Asokwa Member of Parliament said.
President Nana Addo Dankwa Akufo-Addo has commissioned several of the factories under the initiative.
For instance, he commissioned a pharmaceutical manufacturing plant at Larkpleku in Ningo Prampram as part of efforts to boost the local manufacture of serum and vaccines.
The $35 million plant, which has one of the highest production capacities in West Africa.
The Atlantic life sciences company’s plant is expected to manufacture infusions and anesthetic medicines, serum, vaccines, ear, eye and nasal drops for the Ghanaian and West African markets.
President Akufo-Addo said the factory underscored the kind of support given by government to the private sector to take advantage of economic opportunities in the country.
Mr Akufo-Addo said “I am glad to join all of you here to commission the new factory of Atlantic Life Sciences Limited, the company operating under government’s One District One Factory programme.
“The establishment of tis factory is a concrete manifestation that the new paradigm of economic developments with this administration is vigorously pursuing or promoting value addition and industrial activities, within a conducive and business-friendly environment can make headway.
“IDIF seeks to address the challenge of poverty and widespread inequality among rural and peri urban communities through the establishment of an institutional framework that will attract private sector investment in rural economic activity, create jobs and raise income levels.”
On Friday, 2nd September 2022, he also commissioned two other factories stating that “it is the first time I have done so since becoming President, and it is a day I will not forget.”
President Akufo-Addo’s first port of call was the APPED Cylinder Factory, which is currently employing some two hundred and fifty (250) people, and is expected to employ some five hundred (500) people at full capacity.
The company was established in January 2019 to participate in Government’s flagship industrialization programme. Indeed, construction started in 2019 and was completed in the year 2021 with the commencement of commercial production and operations in the month of December the same year.
APPEB Company is the largest Liquefied Petroleum Gas (LPG) cylinders manufacturing in Ghana, in terms of production capacity with an installed capacity of 4,000 to 5,000 (6kg /15kg) gas cylinders per day. The current production capacity is about 2000 cylinders per day due to the current market demand. The company imports mild steal from China as the main raw material for production.
“We will continue to enhance the existing incentive framework designed to make 1D1F designated companies more competitive and sustainable. The incentives, which include tax holidays, import duty waivers, and interest rate subsidies, are designed to help build the capacities and competitiveness of these enterprises, and to position them for greater productivity and efficiency,” he said.
By Laud Nartey|3news.com|Ghana