By Christiana Afua Nyarko, GNA
Accra, Nov. 12, GNA – Government will invest US$1 billion in the textile and garment industry between 2027 and 2030 to modernise production, expand manufacturing capacity, boost exports and create jobs.
The investment, announced by Dr Cassiel Ato Forson, Minister of Finance, in the 2027 Budget Statement and Economic Policy presented to Parliament on Thursday, forms part of the Government’s New Economy Programme, which will be implemented under the 24-Hour Economy and Accelerated Export Development Programme.
Dr Forson said the initiative would focus on modernising textile mills, expanding garment factories and establishing industrial enclaves equipped with serviced land, reliable electricity, industrial water, treatment facilities, laboratories, warehouses and factory buildings.
The shared infrastructure is expected to reduce production costs and enable manufacturers to meet large orders for domestic and international markets.
The programme would also provide fashion designers, tailors and dressmakers with modern equipment, technical assistance and commercial partnerships to strengthen their businesses and access regional and global markets.
To guarantee a market for locally manufactured products, Government would amend public procurement laws to require public institutions to source uniforms, hospital textiles, bedding and protective clothing exclusively from Ghanaian manufacturers.
The requirement would cover security agencies, schools, hospitals and other public institutions, creating a reliable domestic market for local producers.
Dr Forson said factories would also receive support to meet international standards in quality, traceability and responsible production to enhance their competitiveness.
Implementation would begin in 2027 with infrastructure development and the modernisation of priority facilities, while new and upgraded production lines were expected to become operational in 2028, supported by buyer agreements and export orders.
By 2030, Government aims to establish a commercially viable textile and garment industry capable of supplying wider markets and building international recognition for Ghanaian designs and brands.
The initiative is expected to create jobs for machine operators, technicians, designers, dressmakers, factory managers and logistics providers, particularly women and young people.
The textile and garment initiative is one of eight pillars of the New Economy Programme, a four-year economic transformation agenda for 2027 to 2030, under which Government plans to invest US$10 billion in productive sectors to expand exports, strengthen domestic manufacturing and create jobs.
The programme seeks to address structural weaknesses, including dependence on raw material exports and limited domestic value addition, by strengthening local production and connecting Ghanaian businesses to international markets.
GNA
Edited by Agnes Boye-Doe