AGI calls for aggressive local production to dampen economic downturn  

Accra, Aug. 16, GNA – The Association of Ghana Industries (AGI) has urged the government to aggressively promote local production of goods, saying it is the surest way the country can overcome the current economic crisis. 

Speaking at the opening of the three-day Ghana Industrial Summit and Exhibition 2022 in Accra, Dr Humphrey Ayim-Darke, President of the AGI, said investments in local industries to ramp up domestic production were crucial to deal with the current economic downturn. 

“It is imperative to note that no country can ever industrialise without deliberate policies and programmes to support industries or businesses,” he said.  

“The government has a role to play by ensuring that an enabling environment is created for industries to thrive, especially with the African single market opportunity created.”  

Being held on the theme: “Investing in Ghanaian industries to leverage opportunities in the single African market,” the event is an initiative of AGI and supported by Volta River Authority (VRA), Fidelity Bank, Nuclear Power Ghana (NPG) and other partners. 

This year’s event, which marks the fifth edition, was attended by captains of industry and government officials and was designed to provide a supportive and competitive business climate, which will make businesses locally and internationally competitive. 

This year’s edition, among others, aimed to create a global platform for industries to share ideas on innovation and technology to enhance industrialization. 

It also seeks to establish and encourage networking between the industrialists and their international counterparts for knowledge and to engage key government agencies in a constructive dialogue in search of viable solutions to challenges facing industry. 

He said the 2022 edition would create an ecosystem for equity investors to engage with businesses in the region to create the prospects for companies in the agribusiness and processing sectors and huge investments in these sectors. 

For his part, the Minister of Trade and Industry, Alan Kyerematen, assured of the government’s efforts to promote industrialisation and economic development. 

He said initiatives such as One District One Factory, and the identification of 10 strategic anchor industries, including pharmaceuticals, automobiles, aluminium and bauxite, among others, were all aimed at diversifying and transforming the economy by creating new pillars of growth and expansion in the industrial sector. 

Mr Irchad Razaaly, European Union Ambassador to Ghana, said the EU was happy to partner with the AGI to contribute to the country’s economic transformation and industrialisation agenda. 

For his part, Emmanuel Antwi-Dankwa VRA’s Chief Executive Officer said: “Considering the fact global economies have suffered some setbacks due to COVID-19 and Russian-Ukraine crisis this is the opportune time to encourage solutions and harness fresh ideas that can make our local economy a better one. In that regard, let us use this platform as an opportunity to share excellent business ideas that would improve our economy to be more resilient to support businesses.”