Empowering local industries will boost trade – Organised Labour

Mr Abraham Koomson, the Secretary-General of the Ghana Federation of Labour, has reiterated the importance of empowering local industries to strengthen domestic and foreign trade.

It will also create job opportunities while improving exports of goods and services in terms of quality and quantity and reduce pressure on the local currency.

Mr Koomson maintained that no country had developed from a ‘buying and selling’ policy as it destroyed the local economy.

“No country has ever become richer by exporting raw materials without adding value and also having a local industry that is virtually at the intensive care units,” he said.

Speaking at a Stakeholders Engagement Seminar hosted by the Ghana News Agency in Tema, Mr Koomson said without a strong manufacturing foundation and an industrialised economy, Ghanaian investors could not create jobs.

“If the Government truly believes that production will transform the country, then it must revive and exploit the country’s resources to boost the domestic economy.”

“We can survive in manufacturing industries if there is a concerted effort to boost the growth of the local industry.”

“All developed and emerging economies have used industrialisation as a key driver of modernisation; Ghana cannot develop based on the importation of basic goods that can be produced locally,” he explained.

Mr Francis Ameyibor, the GNA Tema Regional Manager, said the Agency was ready to be the source of news on Ghana’s investment, industrialisation, and tourism drive for national development.

Watch the latest edition of BizTech and Biz Headlines below: