Proposed Revision of Domestic Content Law

Trade and Industry Minister, Dr Kofi Konadu Apraku on Wednesday proposed a revision of the Domestic Content Law to increase the use of raw materials in the manufacturing industry from 10 per cent to at least 20 per cent.

Speaking at a national symposium for research scientists in Accra, Dr Apraku said this strategy would add more value to local raw materials, create employment opportunities and overall industrial growth and development.

The Research Staff Association of the Council for Scientific and Industrial Research (CSIR) organised the symposium under the theme: "Propelling Ghana's Scientific, Technological and Industrial Growth" to discuss ways of improving the application of science and technology to industrial development.

Dr Apraku expressed the regret that breweries import 6.5 million dollars worth of malt for their operations when they could rely on local sorghum.

He said industries massively import clinker, starch, leather and eggs when they could be produced locally and called for the reversal of the practice to create ready market for such materials.

Dr Apraku identified finance as a major problem in industrial technology development and urged small and medium scale industries to access funds from institutions like the Export Development and Investment Fund (EDIF), Business Assistance Fund and the Trade and Investment Project Fund (TIP) that have a lower interest rate of 15 per cent as compared to the traditional banks.

He expressed the hope that those funds would ultimately lead to an establishment of an Industrial Bank.

Mrs Anna Nyamekye, Deputy Minister of Environment and Science, said science and technology are major weapons in the fight against poverty and underdevelopment. However, serious attention has not been paid to investment in scientific infrastructure and research.

She stressed the need for more funds to be allocated to scientific training.

Professor Akwasi Ayensu, Deputy Director General of the CSIR, said there is the need to establish a Presidential Commission on science and technology to give maximum attention to the development of those disciplines.

Mr Yaw Owusu Addo, Vice President of the Ghana Journalists Association, called on the media to increase their reportage on science and technology and move away from over-concentrating on politics.