50 Industrial firms to be set up

The government is working out modalities with the African Development Foundation, a US-based organisation, for the establishment of 50 industrial companies throughout the country.

The establishment of the companies will focus on agricultural production, textile manufacturing and agro-based industries, among other sectors of the economy.

The Minister of Economic Planning and Regional Co-operation, Dr Paa Kwesi Nduom, said this at a consultative seminar for the Greater Accra Region in Accra. The aim of the seminar was to sensitise the public, seek opinions, ideas and inputs with a view to reaching a national consensus on a shared vision towards the realisation of a national vision for the country.

Dr Nduom, who is also the Chairman for the National Development Planning Committee, said five industrial companies will be established in each region as a means of ensuring equitable distribution in the development of each region.

He said the Greater Accra Region is well endowed and that accounts for people from all the regions who migrate here, and added that ?if we want to reduce the pressure on the infrastructure facilities in this region, there is the need to develop all the other regions in the country.?

He said statistics show that 90 per cent of people in the Upper West, 85 per cent in the Upper East, 70 per cent in the Northern and 50 per cent of people in the Central Region live below the poverty line and therefore called for concerted efforts aimed at developing all the regions in the country.

Dr Nduom said the greatest problem facing the country is poverty, adding that only 10 per cent of Ghanaians live above one dollar a day which is below the United Nations Poverty Threshold.

He said issues which must be critically examined are how to produce more as well as add value to the products, reasonable depreciation of the cedi as well as efforts to check the rise in population.

He said as for the government?s excessive borrowing, the practice has been put to a stop by the Bank of Ghana?s law which sets a ceiling as to how much a particular government can borrow within a year.

Dr Nduom urged Ghanaians to show interest in development issues and how to create jobs, adding that there is too much politics in the system which does not augur well for the growth and development of the country.

He urged the participants to come up with solutions as to the way forward in wealth creation in the country.

The Greater Accra Regional Minister, Sheikh I.C. Quaye, said if development is to alleviate poverty and satisfy basic needs, promote social justice and observe human rights, then it is crucial that local people are directly involved in decision-making concerning projects and programmes that affect them.

He said ?the new focus of national development is on the human person, where emphasis is on the state of human well-being rather than on the state of the national economy,? adding ?that the human person is the source, centre and purpose of all socio-economic life?.

About 70 participants are attending the seminar. Among them are the Deputy Minister for Works and Housing, Ms Theresa Tagoe, the Deputy Minister for Tourism, Nana Akomea, the acting president of the Ga Traditional Council, Nii Adote Obour, the acting paramount chief of the Shai Traditional Council, Nene Nagai Kasa, the Mayor of Accra, Mr Solomon Ofei Darko, the District Chief Executive for Dangme West, Mr Kwame T. Agban and other dignitaries.