District Assemblies urged to support viable ventures

Accra, July 31, GNA - District Assemblies have been urged to use part of their Common Fund to support potentially viable economic ventures in their areas.

Exporters should also have access to credit to enable them to expand their business and upgrade the quality of their products to meet international standards.

Mr Kwadwo Affram Asiedu, Deputy Minister of Trade, Industry and President's Special Initiatives (MOTI & PSI), made these suggestions in a speech read for him at launch of the second Volta Regional Exposition. The fair that was launched by Mrs Juliana Anokye, Principal Industrial Promotions Officer, on behalf of the Deputy Minister, is scheduled for Ho, from October 26 to November 7, 2004, on Thursday in Accra.

Mr Asiedu said there was the need for the investment potentials of the Region to be made known to promote trade and tourism.

He announced an extension of the African Growth and Opportunity Act (AGOA), scheduled to end in 2008 to 2015 by the US Congress, to create business opportunities for sub-Saharan Africa countries in general and Ghana in particular.

He said the sub-region had a large market for handmade and hand-loomed folklore items, which are eligible under the AGOA. Mr Asiedu urged producers of such products to pool their resources to enable them to have access to business opportunities created by AGOA.

Mic-DV Promotions would be organising the 13-day fair, on the theme "Discovering the Potentials of the Volta Region" to foster trade and marketing opportunities between the Volta Region and other regions of the country.

The fair is expected to create market for local products and to showcase business opportunities in the Region.

The investment opportunities in the Region being developed included food processing, food processing machines, production of handicrafts, manufacturing of irrigation machines, production of animal feed, kente and other textiles and tye-and-dye products.

Mr Pius Adanuti, Kpando District Chief Executive, suggested the inclusion of entrepreneurial training in the curriculum of pre-tertiary school to equip the youth with the necessary business skills.

Mr Kofi Baku, Vice Dean of the Business School of the Central University College, advocated right business attitude, sound leadership and good record keeping towards sustaining small scale businesses.