Govt/private sector to establish three garment factories – Ofosu-Adjare 

The Government is partnering with the private sector to build three garment factories. Each factory will create 3,000 jobs per shift. This initiative aims to generate a total of 27,000 jobs under the 24-hour Economy Policy.

Mrs. Elizabeth Ofosu-Adjare, the Minister of Trade, announced this at the Kwahu Business Forum. The forum took place in Mpraeso, Eastern Region. It is part of President John Dramani Mahama’s rapid industrialization initiative.

The Ministry is also launching a Pharmaceutical Manufacturing Development Policy. This policy will offer incentives for local production of essential medicines. Mrs. Ofosu-Adjare encouraged pharmaceutical stakeholders to expand their operations.

The two-day forum was opened by President Mahama. Its theme was “The Future of Business: The Role of the Financial Sector.” The event aims to support entrepreneurship and small and medium enterprises (SMEs) in Ghana.

Mrs. Ofosu-Adjare mentioned that a component manufacturing policy is being finalized for the automotive sector. She urged industry leaders in Abossey-Okai, Kokompe, and Suame Magazine to invest in vehicle component manufacturing.

The Minister emphasized the Government's commitment to improving the development agenda. They aim to create an environment that meets private sector needs and drives investment.

She highlighted that this year’s forum theme focuses on aligning financial systems with national priorities. This alignment supports entrepreneurship, industrialization, and inclusive economic growth.

At the Ministry of Trade, they are leading reforms through the Business Regulatory Reform Programme. This initiative coordinates reforms across 50 institutions including MMDAs and professional bodies.

Key institutions involved include the Ghana Revenue Authority and Bank of Ghana. Mrs. Ofosu-Adjare noted achievements like establishing a centralized electronic registry for business laws.

A priority this year is passing the Business Regulatory Reform Commission Bill. This bill will institutionalize reforms and address public-private sector concerns effectively.

She stated that national development emphasizes strong partnerships at all levels: government-to-government, government-to-business, and business-to-business.

In today’s global trade landscape, Ghana aims for increased market access and competitiveness. Key initiatives focus on export development and providing support to businesses.

Their Accelerated Export Development Programme helps exporters enter regional markets like ECOWAS and EU. The Ministry collaborates with various agencies for targeted export expeditions to enhance trade relationships.

Mrs. Ofosu-Adjare announced plans for a high-powered delegation visit to China for B2B engagements aimed at unlocking economic opportunities between both countries.

The Government is also working with the Ministry of Finance on sustainable solutions for businesses facing challenges in customs operations and compliance with international protocols.

Additionally, they are implementing the Feed the Industry programme promoting contract farming for reliable supply chains in agro-industrial processing.

A key initiative under this programme is developing an Agro-Industrial Zone focused on cassava, maize, and soya bean value chains in Afram Plains.

Mrs. Ofosu-Adjare appealed to traditional leaders for land availability to support agro-processing investments from businesses.

They are also supporting agro-processing sectors such as food and cosmetics with training focused on women-led businesses by providing necessary resources.

In line with inclusive development goals, targeted initiatives aim to empower women and youth through funding access, skills training, and market opportunities.