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Government to provide incentives to make local industries thrive

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Alan Kyeremateng

Mr Alan Kyerematen has stated the Government’s commitment to work on good tariff regimes and progressively diversify energy sources for local industries to favourably compete both at the domestic and international levels.

Mr Kyerematen gave the assurance when he toured the industrial facilities of Sentuo Steel Company Limited and Sentuo Ceramic Tiles, Ghana in Tema in the Greater Accra Region.

He said the Government had developed 10 new industrial parks across the country to maximise the potential towards job creation and effectively anchor the country’s industrialisation programme.

These initiatives, the Minister said, were seen as critical strategies for economic development in countries around the world.

He said the Government’s agenda for economic growth and job creation was underpinned by a programme of rapid and aggressive industrialisation and value addition, especially in agro-processing and vibrant manufacturing.

He said there was the need to diversify the economy beyond cocoa and gold and invest in other manufacturing products through public-private partnership to drive the needed transformation for the nation. 

This, he explained, would meet the ‘Ghana Beyond Aid’ agenda, which would utilise the human and natural resources base to develop the economy and create jobs for the citizenry.

He commended the management of Sentuo Steel Limited for such investments, adding that the Government would support local industries to expand their production and provide job opportunities for Ghanaians.

He said the ban on the export of scraps materials was timely and a major step that would allow the Steel companies to harness the raw materials and create jobs for the teeming population.

Mr Kyerematen commended the company for establishing a Ceramic Tiles Company, which had the capacity to supply the needs of Ghana and Africa and beyond.

He said the Company would source local materials for their production, thereby creating employment and be adding value to its products to be competitive in the world market, as well.

He said in March the Heads of States of the Africa Union would sign for the Continental Free Trade Area agreement that would allow countries to produce any products from any location in Africa and export with duty free.

Mr Xu Ning Quan, the Managing Director of Sentuo Steel Company, suggested to the Minister to collaborate with the Energy Minister to work on the cost of energy for the Steel companies, which had been a challenge in their production.

He said their businesses were well poised and with the needed support and the enabling environment, they would build strong facilities to expand beyond the country.

Source: GNA

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