The Executive Chairman of the McDan Group of Companies, Dr Daniel McKorley, is concerned about the implementation of the incumbent government’s flagship programme, One District One Factory (1D1F).
According to him, although it is a brilliant initiative, the government should have let the private sector take full charge of it to ensure its sustainability and success.
“One District One Factory (1D1F) is one of the brilliant ideas that this government came up with, but the implementation was wrong and I questioned it,” he said on Joy FM’s Super Morning Show on Wednesday.
He highlighted the crucial role that industry plays in any economy, noting that it is a sector that generates substantial employment opportunities.
According to Dr McKorley, for 1D1F to truly succeed, it must be treated as a business venture, driven by private sector expertise and entrepreneurship.
“If you look at our economy, what we need is industries. Industry is a whole chain that creates lots of jobs,” he said, emphasizing the importance of industrial development.
Dr McKorley suggested that the government should establish an Advisory Board composed of seasoned entrepreneurs who can provide valuable guidance on the viability of proposed projects under the policy.
This board, he believes, could offer crucial advice to prevent failures and ensure the success of the initiative.
“With the 1D1F, it is supposed to be left for the private sector, and an Advisory Board of people who have made it can advise and say ‘If you go here, you will fail,’” he proposed.
He further argued that private sector involvement is essential for protecting and sustaining the businesses created under the 1D1F policy.
Dr McKorley stressed that entrepreneurs with a vested interest in the industry would be more motivated to ensure the long-term success of these factories.
“1D1F needs to be run as a business. So put it in the hands of the private sector and they would protect the business.”
The One District One Factory (1D1F) initiative was launched by President Akufo-Addo to change the nature of Ghana’s economy from one which is dependent on the import and export of raw materials to one focused on manufacturing, value addition and export of processed goods.
The policy was also to support the private sector to establish at least one industrial enterprise in each of the administrative districts of the country.
The concept of the One District One Factory (1D1F), among other initiatives of the government, is designed to transform the industrial landscape of the country and build the capacities of local enterprises to produce quality products and services for both domestic and foreign markets.
However, the real value of the policy’s implementation has not been felt so far by industry and the citizenry.
Source: Myjoyonline
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