Government has granted a five year tax holiday and duty-free regime for the importation of raw materials and machinery by companies operating under the One District One Factory (IDIF) programme.
The President, Nana Akufo Addo announced the incentive when he commissioned the biggest baby sanitary pad factory under the 1D1F programme at Bortianor near Accra.
The commissioning was done Thursday, during the president’s tour of Accra to inspect a number of projects in the capital
Joy News’ presidential correspondent Elton John Brobbey reported that the 40 million dollar facility by Chinese firm Sunda is one of three other factories established in Ghana in the last two years.
The 1D1F initiative is a 2016 campaign promise by the president to add value to raw materials in Ghana.
The policy is to improve Ghana’s foreign exchange earnings, provide jobs and to propel the Ghana Beyond Aid agenda by the government.
Two years after coming to power critics have questioned the feasibility of the policy after it emerged government failed to honour its promise to complete 50 factories in the first year.
But the president is not perturbed by the criticisms. Commissioning the $40m diaper factory, the president said the government is on course to achieving its promises of providing jobs to the people.
He indicated the government’s resolve to maintain current economic indicators to encourage industrial growth.
He said despite skepticism about his promises, he is delivering on them.
Trade minister Alan Kyeremanteng also called on others to take advantage of the tax incentives under the program and invest in Ghana.
Sunda international has branches into the Ghanaian market over a decade ago with production of fast moving consumer goods.
They, however, ventured into the ceramics and real estate last year.
Chairman of the group Dong Ming Hu said Ghana’s political climate coupled with its good business-friendly environment influenced their decision to invest in the country.