President Akufo-Addo, has pointed out that in the Eastern Region alone, there are some seventeen completed 1D1F enterprises, with another sixteen at various stages of completion.
According to him, the completed projects will soon be commissioned with another four at the project conception stage. He revealed that the whole purpose of the policy means having factories and enterprises here in Ghana, which will substitute the ones that are coming from abroad.
President Akufo-Addo iterated that the move by government “is the whole purpose of the policy”. As such, instead of importing, products will be locally sourced.
“When we said we wanted to implement 1D1F and certain strategic industrial policies, we were told it couldn’t be done. But today, everyone is talking about how important it is for the Ghanaian economy to lessen its dependence on foreign goods and foreign services. Now, people are beginning to understand that indeed we had the foresight, we knew exactly what we needed to do to bring substantial progress, real progress not intermittent progress, but substantial progress which is going to be strong and resilient. That is what I’ve noticed is ongoing.”
President Akufo-Addo
President Akufo-Addo indicated by the time government is through with its projects, the “commitment of a 1D1F” would have been established. He highlighted that such commitment is one of the ways government can strengthen the industrial development of the country.
The President highlighted that it is“very important to note that foreign import dependence will not inure” to the country’s growth.
“We have the panacea, the solution, and government is working to towards it.”
President Akufo-Addo
Reviving Ghana’s economy
President Akufo-Addo’s 1D1F initiative is meant to change the nature of Ghana’s economy from one which is dependent on import and export of raw material to one which is focused on manufacturing, value addition and export of processed goods from raw materials that are largely found in the districts across the country.
Thus far, the One-District-One-Factory initiative, which has seen the ongoing construction of 296 factories across the country, of which 125 have been completed, is part of the foundation on which the Akufo-Addo government is building a comprehensive industrialization programme, inspired by the development of strategic anchor industries, such as the emerging automotive industry and the co-ordinated exploitation for the entire domestic value addition of bauxite and iron ore resources.
With this, President Akufo-Addo expressed optimism that by the end of his term, the full complement of 296 factories will be in operation to help provide quality domestic alternatives to the consumption needs of Ghanaians and reduce substantially the country’s dependence on imports.
“We do not only account for the youth as labour in the 1D1F programme, but also as managers and owners. Indeed, fifty-eight (58) of these factories are wholly owned by young people who have received direct government support.”
President Akufo-Addo
The performance and success of the completed 1D1F projects across the country, with regards to minimizing unemployment and shoring local production, has been an indication of President Akufo-Addo’s long held belief that Ghana’s path towards self-reliance is largely premised on the country’s determination to industrialise.
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