150,000 jobs created under 1D1F – Kyerematen

The Minister for Trade and Industry, Alan Kyerematen, says the government’s flagship One District-One Factory (1D1F) programme has created more than 150,000 jobs, particularly for the youth.

Both direct and indirect jobs were created within the manufacturing and enterprises sector as part of efforts “to end severe poverty and underdevelopment among rural and peri-urban communities,” he said.

The minister said this when he briefed parliament on the state of the programme on Wednesday, July 21, 2021.

“The companies that are currently operational have created 150,975 direct and indirect jobs, up from 139,331 in December 2020,” he said.

He added: “It is expected that when the additional 150 1D1F projects currently under construction are completed, the cumulative number of direct and indirect jobs created will amount to 282,792.”

Providing figures on the number of factories established, he said, “since the beginning of the programme to date, there are 278 1D1F projects which are at various stages of implementation”.

Out of this number, 104 companies are currently in operation, 150 are under construction and 24 are at the mobilization stage. 165 out of the 278 companies are new projects, representing 60% whilst 113 companies are existing projects being supported, representing 40%.”

The minister stressed that “the youth have not been left out of the 1D1F programme. Out of the 278 1D1F companies, 58 are fully owned by youth groups.”

Mr Kyerematen stated that these youth have been supported by the government with seed funding to establish their own processing factories under an initiative known as the ‘Able youth 1D1F programme.’

READ ALSO: 1D1F Has Created 139,331 Jobs – Alan Kyeremanten

He underscored the essence of the programme to national economic growth, noting that most countries across the world have achieved “superlative growth over the years, having done so on the back of industrialisation.”

The minister also noted that the 10 largest economies of the world are also the most industrialised economies.

Against this background, the government also initiated a comprehensive plan for the country’s industrial transformation, with the 1D1F programme being a key component of the 10-point agenda.

1D1F and the EU-Ghana Economic Partnership Agreement

According to the minister, the 1D1F initiative would be a driver for the private sector to take full advantage of global partnerships.

“The 1D1F programme is arguably one of the most innovative and comprehensive programmes for industrial development ever to have been implemented in our economic development history,” Mr Kyerematen said.

“The programme will no doubt significantly enhance the capacity of the private sector in Ghana to take advantage of not only the African Continental Free Trade Agreement (AfCFTA), but also the interim Ghana-UK Trade Partnership Agreement as well as the interim EU-Ghana Economic Partnership Agreement (iEPA),” he explained.

About the 1D1F programme

The 1D1F is a private sector-led initiative envisioned by President Akufo-Addo to create the necessary conducive environment for businesses to access funding from financial institutions.

Under the programme, manufacturing companies receive other support services from government agencies to establish factories and production units in the various districts of the country.

The programme was designed to create job opportunities for the youth, thereby increasing their income levels and standard of living.

It is also expected to help in reducing rural-urban migration.

The 1D1F programme also seeks to add value to natural resources in each district while exploiting its economic potentials and decentralise industrial development to stimulate economic activities in different parts of the country.

Through the programme, the production capacity of local substitutes for imported goods is to be enhanced and promote export, thereby increasing foreign exchange earnings to strengthen the local currency (cedi).

Leave A Comment

Your email address will not be published.

You might also like
where to buy viagra buy generic 100mg viagra online
buy amoxicillin online can you buy amoxicillin over the counter
buy ivermectin online buy ivermectin for humans
viagra before and after photos how long does viagra last
buy viagra online where can i buy viagra