News | 1-District, 1-Factory: Minister says no one is interested in establishing factory in U/E region

1-District, 1-Factory: Minister says no one is interested in establishing factory in U/E region

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The Minister of Trade and Industry, Alan Kwadwo Kyerematen, has disclosed that the Ministry has received no offers from investors to establish factories in the Upper East region.

This, he said, is the reason why the region is yet to benefit from government’s flagship One-District, One-Factory policy.

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“We do not have any project on record from Upper East [Region]," Mr. Kyerematen admitted while speaking on the floor of Parliament on Wednesday, November 7.

One of the biggest campaign promises of the ruling New Patriotic Party (NPP) during the 2016 elections was that they would set up factories in all districts across the country.

However, the initiative is yet to fully take off despite the NPP being almost two years into office.

Although government has established factories in some regions, the Upper East region is yet to have its own share.

This Trade Minister explained that it is so because no investor has so far expressed interest in undertaking any project in the region.

He, however, assured that 79 projects would be approved under the One-District, One-Factory policy by the end of this year.

READ ALSO: 1District 1Factory: 1D1F projects not state enterprises – Alan

“The selection of projects is based on the expression of interests of business promoters and the private sector, but in cases where it is clear that no interest has been established in a particular district, then government proposes to play an interventionist role,” Mr. Kyeremateng said

“Even under circumstances where government plays interventionist role, our proposal and our hope would be that when the factory is established, at an appropriate time, we identify strategic investors from the private sector either to co-share the equity with government or actually take up the full equity of the company,”  he added.

The Trade Minister further revealed that Ashanti Region has 13 projects in the offing, Greater Accra Region has 22, Brong Ahafo 13, eight are in the Central Region, 14 in Eastern Region, six in the Northern Region and one each in the Western, Volta, and Upper West Region.

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By Kwame Ntow 08/11/2018 02:15:00