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Business News of Friday, 23 July 2021

Source: rainbowradioonline.com

We have created over 150,000 jobs through 1D1F - Alan Kyerematen

Trade and Industry Minister, Alan Kyeremanten Trade and Industry Minister, Alan Kyeremanten

Trade and Industry Minister, Alan Kyerematen, has told Parliament that the government has through the implementation of the one District one Factory (1D1F) programme created 150,975 since it was started in 2017.

The Minister also noted that so far, 278 factories are at various stages of implementation.

“Since the beginning of the programme till date, there are 278 1D1F projects which are at various stages of implementation. Out of this number, 104 companies are currently in operation, 150 are under construction and 24 are at the mobilization stage. 165 out of the 278 companies are new projects, representing 60%, whilst 113 companies are existing projects that are being supported, representing 40%,” he said.

The Trade Minister added that over 280,000 jobs would be created if all the factories are completed.

“The companies that are currently operational have created a total number of 150,975 direct and indirect jobs. When the additional 150 companies under construction are completed, the cumulative number of direct and indirect jobs that would be created will amount to 282,792.”

The ID1F initiative is a key component of the industrial transformation agenda of the NPP government.

The programme seeks to address the challenge of severe poverty and underdevelopment among rural communities, through the establishment of an institutional framework that will attract private sector investments in rural development activities.

It also seeks to promote local participation in economic development and encourage new community-based public/private partnerships.

The initiative aims to achieve this through a massive private sector-led nationwide industrialization drive, which will equip and empower communities to utilise their local resources in manufacturing products that are in high demand both locally and internationally.

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