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278 factories under 1D1F at various stages of implementation – Trade Minister

Alan Kyerematen1211 Minister of Trade and Industry, Alan Kyerematen

Sat, 24 Jul 2021 Source: www.ghanaweb.com

Trade and Industry Minister, Alan Kyerematen has disclosed that some 278 factories under government’s One District One Factory (1D1F) initiative are at various stages of implementation.

Alan Kyeremanten pointed that out of this number, 104 companies are currently in operation with 150 still under construction and 24 others at the mobilization stage.

Giving an update on the 1D1F initiative before Parliament on Wednesday July 21, the trade minister told the House some 113 companies are currently being supported by government under the programme.

“Since the beginning of the programme till date, there are 278 1D1F projects which are at various stages of implementation. Out of this number, 104 companies are currently in operation, 150 are under construction and 24 are at the mobilization stage. 165 out of the 278 companies are new projects, representing 60%, whilst 113 companies are existing projects that are being supported, representing 40%,” he said.

He added that so far, the industrialization programme since its inception in 2017 has created 150,975 direct and indirect jobs.

“The companies that are currently operational have created a total number of 150,975 direct and indirect jobs. When the additional 150 companies under construction are completed, the cumulative number of direct and indirect jobs that would be created will amount to 282,792,” Alan Kyerematen told Parliament.

The One District-One Factory initiative forms part of the New Patriotic Party administration’s agenda towards industrialization; value addition and job creation.

The initiative is hinged on promoting local participation in economic development with the motive of encouraging community-based public/private partnerships with an aim of yielding results through a massive private sector-led nationwide industrialization drive.

The industry focused agenda also seeks to equip and empower communities to utilise their local resources in manufacturing products that are in high demand both locally and internationally.

Already, President Nana Addo Dankwa Akufo-Addo has reiterated his government’s resolve to establish some one million enterprises across the country before the end of his second term in office.

Source: www.ghanaweb.com