Assemblies to develop business plans for REDP
Koforidua, Sept. 16, GNA - District Assemblies have been asked to develop business plans for the effective implementation of identified projects under the Government's Rural Enterprises Development Programme (REDP).
The plans were expected to be in accordance with guidelines, including a District Economic Development Plan, Community Sensitisation and Consensus-building and identification of priority projects.
Mr Yaw Nyarko Mensah, Chief Industrial Promotion Officer of the Ministry of Trade, Industry and Presidential Special Initiative, said these at a one-day Regional sensitisation workshop on (REDP), organised by the MOTI and PSI on Monday in Koforidua.
It was attended by representatives of financial Institutions, NBSSI officials, District BAC officers, as well as, officers from the Regional Planning Co-ordinating Unit.
While previous attempts at rural economic revitalization efforts have focused mainly on the provision of physical infrastructure facilities, the REDP's thrust was on the promotion of commercially viable business development initiatives to generate sustainable economic development for the rural communities.
According to Mr Nyarko Mensah, all 110 district Assemblies in the country would be assisted to develop three commercially viable, flagship projects, which would generate a total of 330 business enterprises in rural communities, within a three-year period.
To qualify for selection, the projects must be commercially viable, should have a gestation period of not more than one and a half years and must have the potential of providing mass employment in the District. It must also have the strategic importance in transforming the economy of the district, as well as, have a defined market and a shareholding structure that will reflect private sector participation.