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Gov’t attracts investors to locally manufactured automotive industry

Gov't attracts investors to locally manufactured automotive industry
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By Edzorna Francis Mensah

Minister for Trade and Industry has assured that, his Ministry has an intention to attract investment, both domestic and foreign, into the local manufacture of selected automotive components, parts, and accessories, initially including but not limited to batteries, shock absorbers, brake pads, wipers and glass products as a way to mainstream local content and local participation in Ghana’s industrialization process.

He said, “A case in point is the Automotive Industry where the Incentives granted to assemblers are linked to progress in advancing from basic and enhanced Semi-Knocked Down (SKD) assembly to Complete Knocked Down (CKD) Manufacturing with high local content”.

In responding to a parliament question from Dr. Kwabena Donkor, MP for Pru East on what plans the Ministry has to mainstream local content and local participation in Ghana’s industrialization process, the Minister, K. T Hammond noted that the IDIF Programme predominantly involves domestic firms investing in the processing of and adding value to local resource endowments in the districts and which naturally involves high local content.

According to the minister, the Government is implementing deliberate interventions to achieve the strategic objectives of industrial transformation and job creation by enhancing investment across the country as well as in key strategic sectors.

He held that, under “the Strategic Anchor Industries Initiatives of Government”, the Policy and Incentive Framework developed to attract large-scale investment into key strategic sectors including Automotive, Garments and Textiles and Pharmaceuticals Industries will all incorporate the Supplier Development Programme for enhanced local participation and local content.

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