Akufo-Addo commissions auto-parts manufacturing company under 1D-1F

The president being shown some of the suspensions made by the company[/caption] “The manufacture of machines, machine parts and components, as well as the development of the Automobile and Vehicle Assembly industry, are two of the strategic anchor initiatives being promoted by the Government as part of the Industrial Transformation Plan. Spring and Bolts Limited which is being commissioned is a good reflection of the potential in these two sectors,” President Akufo-Addo added. The President also revealed that “Government is also currently in negotiations with leading global vehicle manufacturing companies to establish Assembly Plants in Ghana, and, very soon, formal notification of these negotiations will be made public for the Ghanaian people”. He also told the gathering of another programme being implemented by the Ministry of Trade and Industry to link SMEs, such as Spring & Bolts, to the supply chain of big multinational companies as suppliers of critical inputs and parts. “The Industrial Sub-Contracting Exchange (SPX) has been designed to create a strategic platform for matching local SMEs to large scale companies. The outcome of this programme will enhance the productive capacities of Ghanaian SMEs and increase their revenues whiles the country will have the advantage of retaining critical foreign currency that is currently being used to import parts, raw materials and components,” he added. President Akufo-Addo congratulated Mr. George Amankwa the business promoter and Springs Bolts Ltd., and his team, for a great job done to support the industrialization drive in Ghana. By 3news.com|Ghana]]>