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Business News of Thursday, 23 July 2020

Source: Laud Business

1D1F: 76 factories operating – Ofori-Atta

Finance Minister Ken Ofori-Atta has told Parliament on Thursday July 23 that 76 factories under the One District One Factory programme have started operating.

Presenting the mid year budget review to the House, he said : “Government’s agenda for industrial development for job creation and economic transformation rests on the partnership with the private sector to operationalise the One District One Factory (1D1F) initiative.

“Our push on this front has resulted in 76 operational factories, with 232 projects at various stages of implementation. Not only have we leveraged private sector support through tax exemptions valued at GHc 34miilion,

“Government has directly spent GH¢ 210.03 million as support to existing factories and for the construction of new factories. Our industrial agenda has certainly enhanced the prospects for more jobs for Ghanaians.

“We have also eased the credit constraints faced by 97,876 small and micro enterprises, mostly in the formal sector, under MASLOC with an amount of GH¢99.30 million between 2017 and end 2019. This intervention continues to help these enterprises to thrive and sustain the employment of fellow Ghanaians, especially women.

“Mr. Speaker, H.E. The President has been an ardent advocate of youth entrepreneurship. Through the Presidential Business Support Programme, about 19,000 startups have been trained and mentored to create about 90,000 direct and indirect jobs. A total amount of GH¢88.31 million has been expended to make this possible.”

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