The Minister-designate for Trade and Industry, Alan John Kyerematen says the country is on track towards achieving its objective in replacing foreign imports with domestic production.
At his vetting on Friday, the Minister-designate noted that government’s Industrial Transformation Agenda has chalked a significant achievement culminating in the development of the economy.
He explained that through the flagship programme of President Akufo-Addo, local businesses have witnessed a considerable increase in their production capacity, gradually meeting the goal of import substitution.
“… The President launched a comprehensive programme for Industrial Transformation which my Ministry has been leading. Basically, this transformation programme is anchored on two parallel tracks. First to ensure that we produce to export, and secondly that we produce for the purposes of import substitution.
"And so we have very comprehensive interventions that we have put in place very transformational interventions that are building the capacity of local businesses to be able to import substitute and even produce some products for exports," he informed Parliament's Appointments Committee.
Mr Kyerematen also stressed that "So we are already on the right track and that is the basis for our Industrial Transformation agenda."
The former Trade Minister, however, raised concerns about the rise of importation of commodities like rice, poultry and sugar which is currently to the tune of $1 billion.
These commodities, according to him, are "for no reason" since the country has equal capacity to produce them.
He was optimistic that the Industrial Transformation Agenda will solve the issue.
Latest Stories
-
Anis Hafar: Learning how to avoid wars
1 min -
Private legal practitioner wins Akan NPP parliamentary candidate poll
18 mins -
American-Israeli hostage appears in Hamas video for first time
28 mins -
Samson’s Take: Arrogance of Power, Shameful Policing
7 hours -
Burnley score late to draw with Manchester United at Old Trafford
10 hours -
Bayer Leverkusen extend unbeaten run to 46 games after draw with Stuttgart
10 hours -
Chelsea come from two goals down to draw against Aston Villa
10 hours -
Andre Ayew scores in Le Havre’s 3-3 draw with PSG
10 hours -
GPL 2023/24: Kotoko draw with Medeama; Samartex go 7 points clear of Nations FC
10 hours -
Mahama cuts sod for construction of new multipurpose Jakpa palace in Damongo
10 hours -
NSS management assists Papao fire victims
11 hours -
EXPLAINER: Will dumsor end soon?
11 hours -
IMANI Africa takes on EC, accuses it of lying and publishing half truths
12 hours -
Manasseh Azure calls for investigation and prosecution of those responsible for GRA/SML contract
12 hours -
Kwesi Atuahene: Ghana’s health capital depends on HealthTech – Africa Center for Digital Transformation
13 hours