Entrepreneurs urged to stimulate economic growth

Takoradi, Oct. 31, GNA - Entrepreneurs have been advised to venture into the processing of raw materials and adopt new packing techniques for the local and foreign markets to stimulate growth to further enhance the realization of goals set under the Ghana Poverty Reduction Strategy (GPRS).

Mr. Kwasi Blay, Deputy Western Regional Minister, said contributions of industries towards the achievement of the Millennium Development Goals were crucial and government would continue to evolve policies that would enhance their operations. He was addressing members of the Western and Central Regional secretariats of the Association of Ghana Industries at their sixth annual general meeting at Takoradi on Wednesday. The Deputy Regional Minister said after successful achievement of set-goals under GPRS 1, which mainly aimed at stabilizing the economy, all was set to implement the second phase to consolidate and accelerate growth in all sectors of the economy.

He said the successful implementation of development policies enabled the country to move from the average of 4.5 per cent growth in the 1990s to more than six per cent growth per annum. The latest result of the Ghana Living Standards Survey published by the Ghana Statistical Service indicate that average poverty levels in the country dropped from more than 45 per cent to 28 per cent, Mr Blay said.

He said these successes were achieved mainly through two sub-sectors of the economy namely agriculture and services. Mr Blay said even though the industrial sub-sector growth had stagnated for some time, it was one area that needed to be nurtured to enable it to contribute more to national development. The Deputy Regional Minister mentioned citrus, palm fruits; cassava and rubber among others crops that the two regions had comparative advantage in production as items those entrepreneurs could process and add value to for export.

He urged them to explore the means by using their ingenuity and experience to ensure that defunct industries such as the Pomadze Poultry, Cape Coast Citrus, Aboso Glass Factory, Bonsa Tyre Factory and the Subri Industrial Plantation in the two regions could be revamped. Mr Cletus Kosiba, Executive Director, AGI, urged members of the Association to network and share expertise and experience and to unearth new opportunities.

He advised members to be proactive in district and regional development activities in order to influence policies to overcome challenges they face.

Mr Kosiba said they must forge closer collaboration with personnel from the public sector and embark on membership drive to ensure that entrepreneurs outside the Association joined them. He implored the government and stakeholders to give special attention to small and medium scale industries because they formed about 90 per cent of all industries in the country. Mr Philip Kwesi Nkrumah, Shama Ahanta East Metropolitan Chief Executive, lauded the Association for its collaboration with educational institutions in the Region, particularly the Takoradi Polytechnic for industrial attachment and training of students. He called for the extension of this to the Takoradi Technical Institute for mutual benefit and accelerated development of the Region. Mr Andrew Koomson, Regional Vice Chairman of AGI mentioned some of the programmes undertaken during the past year, which included the installation of Internet facility to enhance the business operation of members.