Apraku advocates industrial review programme
Dr Kofi Apraku, Minister of Trade and Industry on Monday said the country would soon be zoned into five areas to fulfil the dream of accessing $53bn to be derived for Africa Growth and Opportunity Act (AGOA).
He said industry; especially the textile sector should be made fully aware of opportunities available to them under the AGOA. "To further this dream and enable them access the about $53bn to be derived from AGOA, the country would soon be zoned into five areas to ensure effective coordination and education on the subject." AGOA ceases to operate on 30 September 2008.
Dr Apraku told the first in the series of seminars and workshops by the Association of Ghana Industries (AGI) at the launch of the National Industrial Week that Ghana has potential in the textile industry. "Our problem is not with quality but our ability to produce in the required volumes.
He advocated for an industrial review programme that would engineer an aggressive industrial sector capable of transforming Ghana's economy in making it to meet the development targets of the nation.
The review programme, to be fashioned on the financial sector adjustment programme introduced in 1985, will also ensure that industry operates on a smooth and friendly atmosphere capable of accessing funds, infrastructure and expertise. He said for a rather long time, industry has not received attention and support to secure long-term financing.
Dr Apraku noted that all the good ideas embodied in the concept of Golden Age of Business would be meaningless, "unless we look at efforts and moves to rehabilitate industry and make it functional and supportive, all the investment into the sector will not yield any outcome."
"Charity begins at home and invitations to foreigners to invest in the country will not be fruitful, if local companies are not helped to grow and partner appropriately with the foreign investors."
Kweku Asare-Menako, a textile industrialist urged government to get serious with developing the industrial sector since it has the potential of turning the nation's fortunes around. He said South Africa, Mauritius and others in the Caribbean have made it because of immense support they enjoyed from their governments.