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Business News of Friday, 22 September 2017


Job creation through the private sector a government priority – Trade Minister

The Minister of Trade and Industries, Alan Kwadwo Kyeremanteng has said job creation remains a major priority of government.

He however said, the fundamental responsibility of Job creation rest with the private sector therefore the focus of government is to stimulate the private sector to flourish to create more jobs in the country.

“Our number one priority as a government is to create jobs. And whilst we believe that the government can also contribute to the creation of jobs, we also believe that the fundamental responsibility of job creation is not that of government but it’s that of the private sector. That is what we believe can optimize our potential for job creation so what we want to be clear to everyone in this country is that our focus is to support businesses and Private Sector Development.”

According to the Minister, government is embarking on aggressive programs for industrial transformation adding that Government as part of its transformation agenda will soon roll out programs to provide fundings to support existing companies, provide a stimulus package to assist potential viable companies in distress, refocus the operation of NIB to concentrate more on financing Industrial development and establishment of a 2 billion Dollar industrial development fund which will provide medium to long term financing for local industries.

The Trade Minister said this Wednesday during the Opening ceremony of the 2017 Eastern Regional Trade Fair and Exhibition in Koforidua.

He mentioned that, the One -District -One Factory policy would make sure that every district in this country is adding value to its natural resource endowments to achieve job creation, bring industrialization to doorsteps of Ghanaians to curb the rural urban drift, and cut down importation to stabilize the local currency.

Alan Kyeremanteng also mentioned that government is committed to diversify the economy in the next 15 years through a Strategic anchor industry program.

Eastern Regional Minister, Eric Kwakye Darfuor explained that, the trade fair and Exhibition is designed to give meaning to the development of Industries to serve as a springboard for the One District -One Factory Policy.

He said, so far, the region has received over 30 proposals from industrial proponents which are undergoing scrutiny through the Trade Ministry and IDIF Secretariat.

The Eastern Trade Fair and Exhibition which is on the theme “Branding Eastern For Export ” is being participated by local industries and businesses from all 26 districts in the region. The Fair will end on September 24,2017.