Business News

Ghana To Have New Automotive Industry – Alan

Trade and Industry Minister, Alan John Kwadwo Kyerematen, has said that aside the one district one factory policy, the government is looking forward to establishing a new vehicle assembly and automotive industry.
This industry, among others, is captured under an industrial expansion initiative dubbed, ‘Strategic Anchor Industries.’

“Apart from the one district one factory initiative, we are also embarking on what we call Strategic Anchor Industries. So hopefully, within the next five years, we will be diversifying our economy away from cocoa and gold and we will be looking at the petrochemical industry and integrated iron and steel industry, aluminium and bauxite industry which then leads us on to a new vehicle assembly and automotive industry,” he said.

He said all these at the National Single Window Conference held yesterday at Kempinski hotel, Accra.

The minister dropped his original speech and ceased the opportunity to market the arrangements and policies of the government for which the UNCTAD must consider and support.

He further indicated that the government will rekindle the garment and textile industry.

“We are bringing back the garment and textile industry, creating Ghana as a pharmaceutical hub particularly to exploit the African market and many other things which then provides the basis for us to take trade facilitation seriously,” he stated.

The minister revealed government’s intention to establish industrial parks in each of the 10 regions, citing that as a reason for the progress made in China and Asia.

Ghana has been working on the National Single Window for some time, and the minister believes it the time has come for it to be elevated to another level by making it a national priority.

Source: GNA