Plans by the Akufo-Addo-led government to industrialise Ghana through policies and programmes, including the one-district-one-factory project, will ensure a buoyant economy and a fairly stable local currency, Ben Amoah, an economist, has said.
The New Patriotic Party (NPP) promised to establish a factory in each of the 216 districts across the country, ahead of the 2016 general elections.
The party argued that this policy and several others would create more jobs for the teeming unemployed youth in the country.
To that end, the Minister of Trade and Industries, Alan Kyerematen, during his vetting by the Appointments Committee of Parliament, reiterated the government’s commitment at fulfilling this promise.
Speaking on TV3’s Business Focus hosted by Paa Kwesi Asare on Monday, 6 February, Mr Amoah said: “It is a good idea if the NPP (implements its) industrialisation policy. The one-district-one-factory policy can produce some of the things that we import so that we can cut our import bill a little bit and save some of the dollars for ourselves so that the central bank can use it to steady the boat whenever the cedi is coming under pressure.
“It is a good idea if they can [implement the policy]. For instance [they can] impose a policy that will ensure that the remittances or whenever these export companies are bringing in monies, the dollars actually reach Ghana and don’t get diverted somewhere along the way. As long as there is ample supply of dollars, we can be confident that the cedi will remain fairly stable.”
Source: Ghana/AccraFM.com
