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A total of 181 1D1F projects under implementation-Trade Minister

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The Minister of Trade and Industry, Alan Kwadwo Kyeremanten, on Tuesday announced that out of the 181 One-District-One-Factory (1D1F) projects under implementation, 52 are existing ones, while 129 are entirely new.

He said 56 per cent of them were; into agro-processing and 22 into primary agriculture.

Explaining the various categories of the 1D1F projects, the Minister said there were 56 small-and-medium enterprises that would process water melons and oranges at the district level and would commence operations by the end of the year, while 33 1D1F projects were being financed by some consortium of local banks.

He added that about 50 youth would be grouped and supported with US$200,000 to set up their own businesses, while the Common User Processing facility were made up of tertiary graduates, who would be supported with two million dollars each from the African Development Bank to establish their own factories.

He stated that a consortium of Chinese Banks had also presented a US$400 million finance facility to support large-scale 1D1F and, thus, targeted 22 of such projects and eight of them would start implementation by the end of the year.

Mr. Kyeremanten said this at the Meet-the-Press series in Accra, to update the public about the implementation of integrated programmes and industrial transformative policies of government.

He said every nation’s economic growth was anchored on trade, industrial transformation and superlative economic growth, therefore, the Nana Akufo-Addo-led government was implementing comprehensive programmes, anchored on 10 pillars aimed at ensuring economic growth, diversification of the economy and engendering job creation.

The Minister clarified a misconception about the 1D1F initiative, saying; “Please this is not about government establishing state enterprises, it’s about government supporting the private sector to establish enterprises at the district level…it’s a private sector-led enterprise but facilitated by government”.

Mr. Kyeremanten said the initiative was one of the key components of the 10 points industrial transformational agenda of the Government, designed to support the establishment of at least one industrial enterprise in each of the 260 districts across the country, which is led by the private sector and facilitated by government.

Giving the breakdown of the regions and number of factories that were in implementation, the Minister said the Ashanti Region had 43 districts with 23 factories; Greater Accra had 29 districts with 11 factories, Eastern 33 districts with 15 projects and Central 22 districts with 12 factories.

Also, the Volta Region had 18 districts with six projects; Western 14 districts with five factories, Western North nine districts with four, Oti had eight with only one factory and Upper West had 11 districts with four.

Others are Upper East 15 with four, Savanna seven with three, North East six with three, Northern 16 with four, Ahafo six with three, Bono East 11 with five and Bono 12 with seven projects.

Some support government was offering to the Business Promoters of the 1D1F programme include; facilitation of access to credit, interest payment subsidy enjoying 10 per cent per annum and two consultants assigned to each factory for financial and operational services.

Other non-tax and tax incentives include; a five-year tax holiday on corporate taxes, exemption from import duties, taxes and levies on equipment, machinery and spare parts, exemption from payment of withholding taxes and duties.

Additionally, expatriates that partnered Ghanaians to establish 1D1F factories could repatriate their dividends without restrictions, guaranteed against nationalisation and expatriate worker quota.

Mr. Kyeremanten said government would also facilitate market access for Business Promoters that would venture into the programme, including; access to the Continental Free Trade Agreement Area, AGOA, European Union, ECOWAS and bilateral market opportunities.

The Minister noted that government established District Implementation Support Teams across the country as part of efforts to decentralise the 1D1F programme and those decentralised teams would facilitate and support prospective investors to acquire lands, energy, accessibility to road and other infrastructural facilities.

SourceGNA

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