Connect with us

BUSINESS

104 1D1F projects operational, 150 others under construction – Alan Kyerematen.

Published

on

104 1D1F projects operational, 150 others under construction – Alan Kyerematen. 46

 

 

The Minister for Trade and Industry, Alan Kyerematen, has told Parliament that 150 One District One Factory (1D1F) projects are currently at various stages of completion.

According to him, so far, 104 1D1F projects are currently operating nationwide.

The Minister made this known in a statement he read in Parliament on Wednesday, July 21, 2021.

He also said the operations factories have been able to create 150,000 jobs in their catchment areas.

“Mr. Speaker since the beginning of the programme to date, there are 278 1D1F projects which are at various stages of implementation.”

“Out of this number, 104 companies are currently in operation, 150 are under construction and 24 are at the mobilization stage. 165 out of the 278 companies are new projects, representing 60% whilst 113 companies are existing projects being supported, representing 40%. The companies that are currently operational have created a total of 150,975 direct and indirect jobs, up from 139,331 in December 2020. It is expected that when the additional 150 1D1F projects currently under construction are completed, the cumulative number of direct and indirect jobs created will reach 282,792,” he added.

Mr. Kyerematen also added that the 1D1F initiative will enable the private sector take full advantage of the “interim Ghana-UK Trade Partnership Agreement as well as the interim EU-Ghana Economic Partnership Agreement (iEPA)”.

“The 1D1F programme is arguably one of the most innovative and comprehensive programmes for industrial development ever to have been implemented in our economic development history.”

“The programme will no doubt significantly enhance the capacity of the private sector in Ghana to take advantage of not only the African Continental Free Trade Agreement (AfCFTA), but also the interim Ghana-UK Trade Partnership Agreement as well as the interim EU-Ghana Economic Partnership Agreement (iEPA).”

About the 1D1F programme

The 1D1F is a private sector-led initiative envisioned by President Akufo-Addo to create the necessary conducive environment for businesses to access funding from financial institutions and other support services from government agencies, to establish factories and production units in the various districts of the country.

It seeks to change the structure of Ghana’s economy from one which is dependent on import and export of raw materials to one which is focused on manufacturing, value addition, and export of processed goods by processing raw materials found largely in the 275 districts of the country into finished or semi-finished goods.