Gov’t allocates US$79m for one region, one industrial park initiative

Government has announced the allocation of 79 million dollars towards the implementation of the one region one park initiative.

The parks will provide dedicated land space with energy, water and telecommunications facilities for the establishment of manufacturing industries.

Speaking at the 2019 CIMAF Customer Dinner Awards, a Deputy Minister for Trade and Industry, Carlos Ahenkorah, said this will enhance private sector growth.

“The president has given us about US$79 million for the Trade Ministry to embark on the one region, one park project under our industrialization drive. We are going to have enclaves in all the regional capitals where investors can come in and put up their factories or plants and commence production straight away,” Ahenkorah stated.

The guiding principle of this project, he stated, is to promote and strengthen a growth model that is conducive to economic transformation to achieve higher rates of investment and productivity growth across the economy, especially in non-resource-based sectors.

The amount allocated is part of a new World Bank project known as Ghana Economic Transformation Project (GETP) for the development of Ghana’s industrial landscape.

Credit: Citinewsroom.com