The
Association of Ghana Industries (AGI) wants an urgent review of the Ghana
Industrial Policy if the document is to live up to the objective of helping to
resuscitate the country’s manufacturing sector.
The
policy was developed together with the private sector five years ago, in
addition to the Industrial Sector Support Programme, which served as an
implementation programme.
AGI
President, James Asare-Adjei, however says implementation of the policy has
been poor, hence the need for the necessary measures and resources to make
policy work.
“Industry
holds the key to job creation and it is for this reason that AGI is most
concerned about the poor growth in the manufacturing sub-sector,” he said at
the 56th Annual General Meeting of the AGI in Kumasi.
Ghana’s
manufacturing sector has experienced negative growth rate twice in the past
four years. According to the Ghana Statistical Service, industry’s contribution
to GDP has declined from 20.8 percent in 2012 to the current 25.3 percent.
Economist,
Professor Stephen Adei, who addressed the AGM, noted that running the economy
with a generalized policy would not rake in the requisite results especially from
the manufacturing sector, hence the need to create an enabling
environment for specific industries to thrive.
He
also called for the effective management, supervision and accountability of
public schools to improve the country’s basic education to serve as the bedrock
of qualitative human resource base of industries.
This
year’s AGM of AGI was on the theme “Growing Local Industry for Export
Development and Job Creation”, which underscored the importance of growing
export-oriented businesses to reduce the country’s balance of trade deficit and
shore up the local currency.
Finance
Minister, Seth Terkper, is confident the takeoff of the Ghana Export Import
Bann (Ghana Exim) offers opportunities for Ghanaian exporters to access long
term credit guarantees to enhance their operations.
Meanwhile,
the Asantehene, Otumfuo Osei Tutu II, has assured industries of access to
litigation-free lands in good location and in the desired sixes for industrial
and business parks.
He
says the nation’s priority should be targeted to grow industries, “bearing in
mind always to protect local industries from foreign predators, among others”.
By
Kofi Adu Domfeh
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