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01.09.2004 Business & Finance

GNTDA advised to have big share in Garment Factory

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Koforidua, Sept 01, GNA - The Acting Planning Officer of the New Juaben Municipal Assembly, Mr Michael Agyeman, has urged the Ghana National Tailors and Dressmakers Association (GNTDA) to acquire strategic shares in the proposed New Juaben Garment Company Limited. This would make the association one of the strategic investors in the company.

Mr Agyeman was speaking at a forum organized by the New Juaben branch of the GNTDA to learn more about the company and to show their appreciation to the New Juaben Municipal Assembly for locating the factory in the municipality.

He said the company had been registered and land had been acquired for its construction on the Akwadum Road, near Koforidua.

Mr Agyeman explained that the main reason for the establishment of the factory was to create employment and wealth in the New Juaben municipality.

He said the factory would create employment for between 250 to 300 people and would produce for both the local and the export markets. Mr Agyeman said the Ministry of Trade and Industry and the President's Special Initiatives, in collaboration with the municipal assembly, is organizing forums for groups to attract strategic investors to raise two billion cedis as a seed capital for the project.

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