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Economist Prof Ernest Aryeetey has advised government to pursue investments in the agricultural and manufacturing sector which he believes can contribute significantly to the country’s Gross Domestic Product (GDP) and provide numerous jobs.
He noted that at present, agriculture was the main area that can be improved by government within the short and medium term while efforts are made to spur growth in the manufacturing sector in the long term.
For him, manufacturing is key to the expansion of every economy in processing not only agricultural products but many other items that are currently being imported.
On the back of the capital and technology-intensive nature of the manufacturing sector, he is urging government to liaise with other nationals who are ready and willing to establish such industries.
“By all means, the future in terms of modernising the economy will have to come back to manufacturing, but for me, sometimes you need to deal with the medium to long term so you deal with agriculture, strengthen its links to manufacturing [and] invest strongly in manufacturing. We can do that in so many different ways; there are Chinese and Indian investors looking for places to do manufacturing. You’ve got to give them the right incentive, you’ve got to give them skill sets, you’ve got to give them the right infrastructure and they will do it,” he noted during a speech at the Graphic Business/Stanbic Breakfast Meeting in Accra on Tuesday, February 14.
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