Mr. Patrick Nimo, the Acting Chief Director, Ministry of Trade and Industry, has disclosed that plans are underway for the establishment of an Automobile Industry Development Centre by the Government of Ghana.
This Centre, the Acting Chief Director revealed, would help to provide the needed assistance to finance vehicle manufacturing and the regulation of vehicle standards to drive innovation in the manufacturing of component parts in the country.
Touching on the ultimate drive towards industrialization, the Chief Director stated that “most countries have developed their economies on the back of industrialisation, hence, Government’s introduction of the 10 points industrialisation transformation agenda”.
According to Mr. Nimo, the main objective of the industrialization agenda is to render Ghana the industrialisation hub of Africa, adding that, most of the component of the agenda is geared towards addressing critical challenges confronting the private sector within the Ghanaian economy.
Highlighting the relevance of the industrialization agenda to the provision of capital, the Acting Chief Director stated that the “key component of the agenda is to facilitate access to medium- and long-term capital for industrial development”.
Mr. Nimo made this disclosure during an address at the 45th Annual General Meeting (AGM) of the Ghana National Chamber of Commerce and Industry (GNCCI) held under the theme ‘Building Synergies for Resilient Economy Post Covid-19: The Role of the Private Sector’.
Government to support industrialization
Speaking at the meeting, Mr. Clement Osei-Amoako, the President of the Ghana National Chamber of Commerce and Industry called on government to continue to work with key stakeholders to provide targeted technical, financial, and infrastructural support in building competitive Ghanaian enterprises and industries.
This, Mr. Osei-Amoako disclosed is the only way to reposition local businesses to leverage on the African Continental Free Trade Agreement (AfCFTA) to aid their business operations.
Praising Government of Ghana’s approach to handling the novel coronavirus, GNCCI’s President noted that Government’s response to the pandemic, in consultation with stakeholders, has been exceptional.
This, Mr. Osei-Amoako stated, has led to several initiatives such as the provision of stimulus packages and the GhanaCARES ‘Obaatan Pa’ programme.
“We are optimistic that government’s recovery strategies which have mainly focused on fiscal, monetary and financial support measures as well as exchange rates and balance of payments will help improve the resilience of the Ghanaian economy and to build back better.”Mr. Clement Osei-Amoako
Iterating the innovative initiative adopted by the Chamber in the wake of the global pandemic, GNCCI’s President stated in line with its mandate to promote and protect commercial and industrial interests, the Chamber has adopted innovative ways of engaging its members and the business community at large.
Also, Mr. Osei-Amoako highlighted the ultimate need for more public and private sector engagement to ensure quick recovery of the Ghanaian economy.
Recently, Mr. Abu Jinapor, the Minister for Lands and Natural Resources called on Ghanaians to commit efforts to assist the Government of Ghana in its industrialization quest.
The move towards industrialization, the Lands Minister iterated, will help build a robust ‘Ghana Beyond Aid’ as stated by His Excellency President Nana Addo Dankwa Akufo-Addo.