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01 August 2017

55 factories for 1-district-1-factory by end 2017 – Ofori-Atta – Starr Fm

The Minister of Finance Ken Ofori-Atta has said government will start the implementation of the one-district-one-factory policy with 55 factories by the end of 2017.

This, according to him, will provide some 80,000 employments to the teeming unemployed youth in the country.

Mr. Ofori-Atta disclosed this Monday July 31, 2017 during his presentation of the mid-year budget review.

He said:  “Mr Speaker, under the government’s industrial transformation agenda, the implementation of the One District, One Factory has commenced a programme implementation frame of which certain modalities of implementation have been prepared.

“To date, the technical support group for the programme has already reviewed 234 businesses for the 1D-1F initiative.

“About 59 per cent of these applications are from the manufacturing sector while 33 per cent are from the agribusiness sector. It is envisaged that more than 55 will start actual implantation of their enterprises by year-end with the potential to generate about 80,000 direct and indirect jobs.”

Mr. Ofori-Atta also said among other things that “the macro-fiscal performance we have achieved in the first six months of President Akufo-Addo’s administration is showing remarkable progress.

“Mr. Speaker, to put the performance of the economy in the first half of 2017 into perspective, it will be useful to remind ourselves of the macroeconomic targets we set for ourselves for the 2017 fiscal year based on the overall macroeconomic objectives of government.”

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