Alan Kyerematen has communicated his resignation as the Minister of Trade and Industry to the Asantehene, Otumfuo Osei-Tutu II.

This was during his visit to the Manhyia Palace on Thursday after a public announcement of his interest to contest the flagbearership race of the New Patriotic Party in a broadcast.

Mr. Kyerematen was grateful for the traditional ruler’s support for his Ministry’s industrialisation drive.

“I’m here to inform you formally that I had tendered in my resignation as the Cabinet Minister for Trade and Industry and the President has very graciously accepted my resignation with effect from the 16^th of January.

“I will like to use this opportunity to also thank you sincerely for the role that you have played in supporting the work of the Ministry of Trade and Industry, particularly in leading the 1D1F advocacy in Ashanti,” he told the Asantehene.

The Former Minister for Trade and Industry also revealed a thirteen million dollar strategic investment fund from the World Bank for the development of the Greater Kumasi Industrial City and Economic Zone project.

It is in anticipation of a 150 million dollar facility from the South Korean government for extension of the offsite industrial facilities.

Mr. Kyerematen who introduced leadership of the World Bank to the Asantehene in Kumasi says the park, when completed, will be a game changer in the country’s industrialization drive.

“What we are seeking to do is going to be a legacy project. It is going to be the flagship industrial project in the whole of the country”, he said.

He added, “on my recent visit to South Korea, at the very highest level, they have shown not just an interest but the desire to provide concessionary financing to support the establishment of the city”.