National Industrial Policy Launched
02 June 2011
A National Industrial Policy (NIP) aimed at spurring private sector led growth of the economy was launched in Accra yesterday.
The policy, anchored on such thematic areas as production and distribution, technology and innovation, aimed at facilitating the industrialization agenda of the country, also calls for the setting up of an industrial development fund to support industries.
The policy together with five year industrial Sector Support Programme (ISSP to provide, timelines for the implementation of the NIP.
The two documents were jointly launched by the President of the Association of Ghana Industries, Nana Owusu- Afari and Second Vice president of the Ghana Chamber of Commerce and Industry, Nana Appiahagyei Dankawoso.
Ms Hannah Tetteh, Minister of Trade and Industry, delivering the keynote address, said the policy approved by Cabinet last year, was to facilitate the industrialization drive of the country.
She said no country had attained a sustained economic growth and development without industrialization and emphasized that the objectives of the NIP were to create a modern productive economy, with high levels of value-addition, provide employment through the manufacturing sector and also transform the agricultural sector through agro-based industrial development.
Ms Tetteh said the NIP was also to complement the Private Sector Development Strategy (PSDS) II which was directed at developing a thriving private sector capable at creating jobs and enhancing the livelihoods of people.
Furthermore, she said, the policy would also assist industry to produce high quality products that could compete favourably on the international market.
Ms Tetteh expressed her gratitude to the development Partners (DP) for funding the development of the NIP.
Nana Owusu-Afari in a remark, commended the government for the policy, noting that over the years, the AGI had been advocating a national framework to promote the private sector and noted that it was untenable for trade experts to suggest that state interventionist policies were inimical to free trade.