President Akufo-Addo has emphasized that his government is working in earnest to create ways for industries to thrive and become a major source of jobs, economic growth and prosperity.
According to him, the government has exciting menus of new business opportunities that will create a buoyant economy under his regime.
The agenda of the Akufo-Addo government industrial transformation is anchored on building the competitiveness of existing local industries by facilitating access to medium and long term financing at low-interest rates, as well as implementing the 1-district-1-factory initiative that is designed to bring industrialization to the doorsteps of the people.
Speaking at the opening of the government’s National Policy Summit in the capital, Accra, Mr Akufo-Addo said it was regrettable that the industrial sector suffered one of the most significant setbacks in history over the past few years.
He said: “A significant number of Small, Medium and Large Scale operators were all brought to their knees as a result of the four years of dumsor induced by the mismanagement of the Energy sector.”
According to ISSER, Dumsor cost the country USD 618 million in economic activities in 2014 alone equivalent to 2% of GDP.
Thus the four years of Dumsor cumulatively led to a loss of more than $3billion in economic activities and in the process scores of Ghanaians lost their jobs.
We’ll address threat to industries – Akufo-Addo
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