Vice President of the Association of Ghana Industries AGI Dr. Yaw Adu – Gyamfi is proposing a five year tax holiday for businesses that will be established under the “One District, One Factory initiative.

He believes such incentive could boast the confidence of more investors to want to set up businesses under the initiative.

Speaking at the annual general meeting of the Western and Central region branch of the AGI Dr. Adu – Gyamfi observed the “One District, One Factory initiative may face challenges if government is unable to create favorable stable micro-economic conditions and the business climate that helps to bring the cost of doing business down.

Already, he says businesses in the country are faced with difficulty in accessing credit facilities, high cost of credit, poor road network, difficulty in securing business operating permit from local authorities and cost of energy and its attendant challenges among others.

He reminds government of the enormous job prospects, the potential growth of the manufacturing sub – sector of industry, improved livelihoods on account of economic activities and entreats government to make would – be businesses under the “One District, One Factory” initiative stay competitive since it will be central to their survival.

AGI is positioning itself to fully participate in the initiative and “with the support of government secured a financing facility from China on turnkey project basis to support the establishment of the factories”.

At the moment, Dr. Adu – Gyamfi said “AGI is working with the relevant agencies to ensure that the private sector is able to assess this facility”.

Speaking on the theme for the meeting “One District, One Factory initiative as tool for economic development and job creation”, the Western and Central regional Chairman of the AGI Mr. Joseph Bawuah says the theme was chosen to create a platform to better understand how private sector players can take advantage of government’s policy on district industrialization and set up factories in the districts.

He says the association acknowledges efforts made in the past to make the private sector an agency of industrialization and believes “this is the right time to scale up energies to industrialize our economy”.

Gad Conference


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