There’s value addition on the exportation of raw materials, GIPC boss
Free SHS critical to the transition of the economy, Yofi Grant
Chief Executive Officer of Ghana Investment Promotion Centre (GIPC), Yofi Grant, has said the country has been put on the path of industrialization through government programmes like One-District-One-Factory initiative.
According to him, businesses have shifted from just exporting raw materials to value addition to these essential commodities on the market.
Speaking to the media on the sidelines of the 2022 Money Summit organized by Business and Financial Times in Accra on Tuesday, April 26, 2022, Yofi Grant said this structural reform will help create a robust economy to withstand any external shocks.
“The fact that there is an emphasis on value addition and productivity instead of just exporting our raw materials is definitely a step in the right direction which should have happened many years back but didn’t happen. But now, through the 1-District-1-Factory policy, we’ve made the grounds work and set up the trajectory of industrializing our country,” he said.
“Secondly, the policy of Free Senior High School education is also critical for an economy in transition because then, you are going to have a country where in the medium term, the minimum average education of the ordinary person you see is in high school education. We didn’t have that before…” he added.
It would be recalled that Vice President, Dr Mahamudu Bawumia earlier this month noted that a total of 106 factories have been completed and are operational under 1D1F.
148 factories, are however under construction.
Dr Mahamudu Bawumia reaffirmed government’s commitment to transform Ghana into an industrialized one despite the global economic challenges.
