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79 One-District, One-Factory Projects To Commence Before Year End

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Around 79 extends under the administration’s One-district One-factory (1D 1F) program are relied upon to be taken off by the end of the year 2018, Vice-President Dr Mahamudu Bawumia has said.

Dr Bawumia, who announced this at the second stakeholders conference of the Ministry of Foreign Affairs and Regional Integration in Accra on Thursday, November 29, 2018 said every one of the tasks were at different phases of usage.

He said 35 others were at presently experiencing credit evaluation to allow them receive financial support for execution.

Conference

The three-day meeting, which was organised by the Ministry of Foreign Affairs and Regional Integration, in association with the United Nations Economic Commission for Africa (UNECA), was on the theme, “Utilizing financial tact for Ghana’s industrialisation plan”.

It was designed for the members to share data and best practices, recognize difficulties looked by key partners in the Ghanaian economy and proffer answers for them.

The meeting is additionally anticipated that would concentrate on methodologies for the advancement of made-in-Ghana goods and how the nation can position itself to profit from the launch of the African Continental Free Trade Area (ACFTA) activity.

Government Interventions

Addressing what the administration was doing to accomplish its vision of a Ghana Beyond Aid, Dr Bawumia said a great deal of work had been done in accomplishing solid large scale financial steadiness which was vital in trade and investment.

He said in the course of 22 recent months “we have moved rapidly to balance out the macroeconomy; we have, through the strategies that have been actualized, expanded financial development from 3.7 percent in 2016 to 8.5 percent at end of 2017”.

Agriculture development, he included, had also expanded from three percent in 2016 to 8.4 percent toward the end of 2017, while mechanical development expanded from a negative five percent to 16.7 percent within the same period.

The fiscal deficit, the Vice-President stated, was brought down from 9.3 percent in 2016 to 5.9 percent, with inflation lessening from 15.4 percent to 11.7 percent along the line and now 9.5 percent.

“Interest rate are on the decay, net worldwide stores have expanded and obligation to-Gross Domestic Product (GDP) proportion has also declined to somewhere in the range of 55 and 57 percent,” he included.

Digitisation

On digitisation, Dr Bawumia said the government was utilizing on innovation to move the economy onto the next direction of formalization.

He listed a portion of the activities, for example, the presentation of an advanced location framework, the digitisation of visa and driving permit obtaining, a paperless products clearing framework at the ports and the digitisation of land titles.

The Vice-President additionally referenced the presentation of the national identification card, which he clarified would be associated with driving license and visa to make it simple for every subject to be interestingly distinguished and furthermore improve crisis administrations, as one of the noteworthy activities attempted to advance financial development.

Foriegn Ministry

The Minister of Foreign Affairs and Regional Integration, Ms Shirley Ayorkor Botchwey, who additionally tended to the gathering, said her outfit was working with the Belgian Embassy for the visit of a 65-part exchange mission to Ghana this December to investigate business openings.

She said the service would proceed to advance and secure the enthusiasm of the nation in its respective and multilateral relations with the more extensive worldwide network.

In compatible of the government’s agenda for the structural change of the economy, Ms Botchwey stated, the ministry would continue to leverage the tools of economic diplomacy through its missions abroad to actively promote Ghanaian goods and services and attract prospective investors.

She expressed the hope that the discussions would further boost the working relations of stakeholders, while addressing the teething challenges in the pursuit of the Ghana beyond aid agenda.

Ms Botchwey said the outcome of the deliberations would provide the Foreign Ministry and its diplomatic missions abroad with the relevant information to aggressively promote made-in-Ghana goods and services and attract foreign direct investment into the country.

 

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