One district, one factory on course – Akufo-Addo

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Government’s plan to liaise with the private sector to build factories in every district is on course.

That’s is according to the President, Nana Addo Dankwa Akufo-Addo.

The NPP government has come under fire for its failure to deliver on some of its promises including the one district one factory promise, which many keep referring to.

Government however explains that it is working to fulfill the promise.

Speaking at an investment forum in London, Nana Akufo-Addo said government is on course.

“In each one of the districts of Ghana there is some raw material there that can be the subject of processing for industrial development. And that is what we are talking about, we want to add value to each of these resources and at the same time provide the basis for spreading the benefits of economic development throughout our country,” he added.

Economy being revived

The President also said his government is reviving the Ghanaian economy despite the difficult circumstances it inherited from the previous administration.

He said his government is ensuring that the economic fundamentals are corrected to put the economy on the right track for realizing the vision of Ghana becoming an industrialized nation.

“Indeed, the Ghanaian economy, whose growth rate stood at 3.6%, in 2016, the lowest in two decades, grew by 8.5% in 2017, and is expected to grow, in 2018, by 8.3%, which according to the International Monetary Fund, would make it one of the fastest growing economies in the world this year,” he said.

The President continued, “The relative success of the implementation of our business-friendly policies, and the availability of affordable and reliable power, has ensured industry, whose growth rate stood at negative 0.5% in 2016, grew by 17.7% in 2017, the highest sectoral growth in the economy.”

Additionally, President Akufo-Addo indicated that a number of deliberate interventions to reduce the cost of doing business, reduce the stress associated with setting up businesses, and formalizing the economy have been put in place.

“The e-business registration system, the paperless port clearance system, the digital property addressing system, the mobile interoperability platform, and the issuance of the national identification card, will all help quicken the pace of change to bring us into the technology-driven era, and make our businesses competitive, so that we can attract the requisite investment, foreign and domestic, to spur on our country’s economic transformation,” he said.

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