Ten firms targeted to relocate under AGOA

The Government is targeting 10 companies from the United States, Hong Kong and Taiwan among others who have exceeded their US quotas to relocate in Ghana under the African Growth and Opportunities Act (AGOA).

It is estimated that 10,000 jobs will be created and total export earnings over the four-year period will amount to 460 million dollars, if these countries are targeted. Dr Kofi Konadu Apraku said this in an address at the lunching of the National Industrial week celebration in Accra.

Dr Apraku said in addition, 100 medium- sized Ghanaian companies would be assisted to become regular exporters of garments and textiles over the period of four years and “these companies would employ 50, 000 Ghanaians with total export revenue of 2.5 billion dollars.”

Dr Apraku said under the starch production initiative, an estimated 1.9 million tonnes of cassava crops would be produced over the next four years which would yield 380, 000 tonnes of starch for exports. Based on the current market prices, total export earnings expected to be generated over the next four years, he said would be 95 million dollars.

“Through this initiative the government hopes to generate employment for about 25,000 core farmers in ten key cassava growing districts,” he added.

He said the government’s campaign promise of creating jobs for the youth was not a mere political gimmick but that government was working seriously towards it.