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Monday, 15 July 2013

AGI calls for Industrial Parks and Power Plants across every region

The Association of Ghana Industries wants government to set up an Industrial Park in every region. The association believes this should enhance the operations of local manufacturers to effectively address the country’s economic challenges. 

The President, Nana Owusu Afari was speaking when executives of the association met President Mahama. 

“these parks should have all the utilities so that if investors want to set up plants, they have these parks already there”, he said.

The association also mentioned that too much imports was the cause of the cedi's depreciation and shortage of foreign currency. The association also called for a ‘bias’ of power generation in favour of industry.

In response, President Mahama said some interventions are being instituted to improve the energy situation. He also confirmed the disbursement of the second tranche of the Chinese Development Bank loan. 
He asked the Association to support a 'difficult period' of Ghana' economy as government rolls out new taxes such as a fiscal stabilization levy and some import levies.
He described the fiscal measures as 'sunset clause' meant to stabilize the economy for a fixed period. Government would remove these taxes after the economy stabilizes, he assured.

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