Minister for Trade and Industry Alan Kojo Kyerematen has disclosed that 62 new factories have been added on to government’s flagship one district one factory policy.
This brings the total number of private-public industrial facilities under the project to 232.
Government in June last year revealed that about 170 companies in various parts of the country had commenced operations or were either under construction.
However, appearing before parliament’s Appointments Committee Friday, February 26 2021, Mr. Kyerematen indicated that the flagship project which has been under his supervision since 2017, has revolutionized Ghana’s industrial development.
While responding to Minority Leader, Haruna Iddrisu's question on the status of the project, the nominee indicated that about 168 completely new factories have taken off out which 76 are currently under operation.
This he says is contrary to claims that government was only revamping already existing companies as he noted that only 64 of such facilities were captured under the 1D1F project.
Touching on interventions rolled out so far to support the emerging factories, Alan Kojo Kyerematen said, “Mr. Chairman through this initiate we’ve been able to mobilize 2.3 billion Ghana Cedis from local financial institutions, government has provided interest subsidy payment in support of 230 million Ghana cedis. This is meant to de-risk the project to make it easier for them to put it (the factories)”.
The Minister-designate is hopeful that when given the nod, work will be expedited on the project which has the potential of creating more job opportunities and transforming Ghana’s economy.
Below is the total break down of the 1D1F initiative:
Two Hundred and Thirty-Two (232) IDIF projects in 154 Districts, at various stages of implementation, made up of 64 existing companies and 168 new companies.
They are categorized as follows:
• Projects Currently Operating as 1D1F- 76
• Projects under Construction -107
• Projects ready to commence construction
(Mobilization Stage) - 36
• Pipeline Projects to be financed by PFIs- 13
TOTAL PROJECTS 232
They include Agro-processing (56%), General Manufacturing (22%), Meat Processing (5%), Primary Agriculture (4%), and other Industrial Enterprises (13%).
The following milestones have been achieved:
• 139,331 direct and indirect jobs created by 76 1D1F companies in operation
• 285,915 additional direct and indirect jobs projected
• GHS 2.3 billion mobilized from PFIs
• Interest Subsidy payment support of GHS 213 million
• GHS 603 million Import Duty Exemptions granted to 37 1D1F companies
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