Industrialization key to economic growth – Dr Siaw Agyepong

Executive Chairman of the JOSPONG Groups of Companies Dr. Joseph Siaw Agyepong says Ghana needs to vigorously pursue programmes and policies aimed at industrialisation in order to salvage the economy.

He advocated increased industrialisation in order to cut down about 60% of imports and secure a robust and resilient economy.

Dr. Agyepong who was interacting with the Israeli Ambassador to Ghana after the latter paid a familiarisation visit to some subsidiaries of Zoomlion and Jospong said industrialisation holds the key to Ghana's development.

Some of the facilities visited by the Israeli Ambassador included the Vehicle Assembling plant, Zoompak waste transfer station at techie, Yeeco plastics Ghana limited in Tema, Universal Plastic Products and recycling limited, JA plant pool Ghana Limited, Mudor decal treatment plant which is still under construction and the lavender hill among others.

All these being subsidiaries of the Zoomlion and Jospong groups of companies are into industrialisation.

The Israeli Ambassador to Ghana Ami Mehl, commended the management and staff of Zoomlion and Jospong for their contributions to the economy of Ghana.

H.E. Ami Mehl was elated at the company's passion for industrialisation and lauded their efforts at recycling and waste management.

He mentioned that Israel today has a lot of technology out of necessity that can be exported to other countries.

He stressed the importance of industrialisation and agriculture saying that with these two a country's development is assured.

The Ambassador indicated Israel’s desire to partner organizations such as Zoomlion for further growth.

"Ghana needs partnership and cooperation and not support, we are therefore happy to be here and when we find the right partners we will share our technologies", He said.

Dr. Joseph Siaw Agyepong highlighted the need for transfer of technology to help build an industrialized economy.

When you do industrialisation, you create jobs and control your own money, a country that does not go into industrialisation and imports almost everything always goes into recession", he explained.

"What we need now for the economy is to have more industrialisation so we can cut off 60-70% of our imports and that is why we are venturing into the manufacture of all sorts of products," Dr Agyepong intimated.

He eulogized Israel for their passion for technology and was optimistic of increased bilateral relations in order to benefit from technology transfer.