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Business News of Sunday, 25 July 2021

Source: www.ghanaweb.com

Additional 150 companies to create 282,792 jobs under 1D1F – Alan Kyerematen

Minister of Trade and Industry, Alan Kyerematen Minister of Trade and Industry, Alan Kyerematen

A cumulative number of 282,792 direct and indirect jobs under the One-District-One Factory initiative will be created when an additional 150 companies under construction are completed, Trade and Industry Minister, Alan Kyerematen has said.

This comes after the minister providing an update of the industrialization initiative disclosed that 278 factories were under various stages of implementation with some 150,975 direct and indirect jobs already created among companies currently operational since its inception in 2017.

“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,” Alan Kyerematen told Parliament, Wednesday.

“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 One District-One Factory initiative forms part of the New Patriotic Party administration’s agenda towards industrialization; value addition and job creation.

The initiative is hinged on promoting local participation in economic development with the motive of encouraging community-based public/private partnerships with an aim of yielding results through a massive private sector-led nationwide industrialization drive.

The industry-focused agenda also seeks to equip and empower communities to utilise their local resources in manufacturing products that are in high demand both locally and internationally.

Already, President Nana Addo Dankwa Akufo-Addo has reiterated his government’s resolve to establish some one million enterprises across the country before the end of his second term in office.