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24-hour economy will offer solution to struggling 1D1F — Trade Minister-Designate

Headlines Member of Parliament for Techiman North and Minister-designate for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare
WED, 22 JAN 2025
Member of Parliament for Techiman North and Minister-designate for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare

Member of Parliament for Techiman North and Minister-designate for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, has pledged to revamp the previous government’s One District, One Factory (1D1F) policy.

During her vetting by the Appointments Committee of Parliament on Wednesday, January 22, Mrs. Ofosu-Adjare acknowledged the policy’s benefits but highlighted challenges that hinder its success.

“One key challenge, I have been briefed on from the Ministry of Trade, is the lack of raw materials to feed the factories. We know that one major problem in the agro-processing industry is the shortage of raw materials. Because of this, these companies have not progressed as the government originally intended,” she said.

To address these issues, the Minister-designate proposed leveraging the 24-hour economy policy, emphasizing its potential to enhance production and sustain the factories under the 1D1F initiative.

“But there is always a solution to problems. I see the solution in the 24-hour economy. In the 24-hour economy, businesses are going to receive incentives, and agribusiness will play a key role. Through commercial contract farming, we will ensure a steady supply of raw materials.

“This commercial contract farming approach will largely solve the raw materials problem. Consequently, factories under the 1D1F initiative will benefit from the availability of raw materials through the 24-hour economy framework,” she explained.

Isaac Donkor Distinguished
Isaac Donkor Distinguished

Is a journalist with a keen interest in politics, current affairs, and social issuesPage: isaac-donkor-distinguished

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