Business News of 2014-03-05

AGI supports government's plans to develop local industries

The Association of Ghana Industries (AGI) has given its backing to government to develop local industries as outlined in the state-of-the-nation address delivered by President John Dramani Mahama.

In a statement signed by Mr James Asare-Adjei, President of AGI and copied to the Ghana News Agency on Monday, the association said it had considered government plans as a positive paradigm shift in its strategy to boost local production to scale up import substitution.

It said it was also encouraging that government was re-directing its attention to reviving national strategic investments and infrastructure as pillars critical to economic development.

It however urged government to come out with a well-defined roadmap and collaborate more with the private sector to ensure successful execution of the measures.

“AGI believes government must provide the funds to effectively roll out the Ghana Industrial Policy, which seeks to address many of the challenges facing Industry,” it said.

According to the statement, Ghana’s present economic conditions required urgent action and commitment on the part of government and all stakeholders to position Industry on a sound trajectory.

“To this end, AGI is eager to discuss its views with government regarding the finer details on how to achieve these goals quickly.

Our desire is for this process to start as soon as possible, and be more regular and structured in order to fully achieve the goals outlined in the state-of-the-nation address,” the statement added.