Industrialisation is key in breaking out of the poverty cycle – Dr Letsa

Dr. Archibald Yao Letsa,  Volta Regional Minister, says industrialisation is key to breaking out of the poverty cycle and accelerating socio-economic development.

He said investing in industrialisation was one of the best ways to support the private sector.

He noted that industry was the heartbeat of the private sector, while the private sector was the nerve centre of local economic development.

Dr. Letsa, who said this at the launch of the 2023 Volta Trade and Investment Fair, stressed that the job of the government was to provide an enabling environment conducive to private sector growth.

The Fair is under the theme, ‘Leveraging the African Continental Free Trade for Local Economic Development,’ resonates with the broader vision of the Africa Continental Free Trade Agreement (AFCTA)

He noted that it was important for citizens to take advantage of the enabling environment created by the government to engage in productive activities.

The Minister disclosed that about 400 indigenous exhibitors and foreign companies were expected to participate in the event from across the Region and beyond, including India, Kenya, Togo, and Nigeria.

“We are expecting over 4,000 visitors, comprising investors, business communities, diplomats, contractors, professionals in the building industry, and young entrepreneurs, among others.”

Dr. Letsa said the fair would, among other things, expose the full potential and opportunities existing in the region to the rest of the world and foster partnership and synergy between the RCC and the private sector.

He charged local exhibitors to pay attention to packaging and modeling their products for sale as the massive industrialisation drive by the government included a way of disposing of the products; hence, packaging must be done.

“We can only grow competitive industries when our economies are on the producing end and not on the receiving end... Our mission as Coordinating Council is to create a productive local economy where citizens participate in growing it.”

The Fair is slated for November 26 to December 20, 2023.

The event was graced by Dr. Angela Lusigi, UNDP Resident Representative; Eliphas M. Barine, Kenya High Commissioner to Ghana; Dr. Fareed Kwesi Arthur, National Coordinator, Ghana National AfCFTA Coordination Office; and chaired by Togbe Dorglo Anumah VI.