125 1D1F projects are operational – Finance Minister

Mr Ken Ofori-Atta, the Finance Minister, says 125 out of 296 One District, One Factory (1D1F) projects undertaken since 2017, are operational across the country.

He said it was by far, the biggest industrialisation programme the country had seen since colonial days.

Mr Ofori-Atta said this during the presentation of the Mid-Year Fiscal Policy Review of the Budget Statement and Economic Policy of Government and Supplementary Estimate for the 2022 Financial Year to Parliament.

The President introduced the One District One Factory (1D1F) initiative in 2017 to change the nature of the country’s economy to one that will focus on manufacturing, value addition, and the export of processed goods.

The country is dependent on the export of raw materials and the import of finished goods.

Mr Ofori-Atta said as seen against the 278 projects and 106 operational 1D1Fs reported in November, 2021, the country’s industrialisation agenda was progressing steadily.

He urged more investors to see the current global supply chain challenges as rather an opportunity to invest in the country now, the commercial centre of the Africa Continental Free Trade Area.

The Finance Minister said, ‘‘the President’s vision to see Ghana producing what we use for ourselves and our neighbours as well is unfolding right before our very eyes.’’

Mr Ofori-Atta assured citizens of Government’s continuous support for the 1D1F firms with technical assistance, tax incentives and access to credit, including interest payment, subsidy support to de-risk lending to create jobs and promote export orientation for transformation.

Source: GNA