1D1F has created 139,331 jobs – Alan Kyeremanten
The Trade and Industry Minister-nominee, Alan Kyerematen, says the One-District-One-Factory program has created 139,331 jobs.
“Through the intervention, a total of 139,331 direct and indirect jobs have been created by the 76 companies and 285,915 additional direct and indirect jobs are projected” he noted.
1D1F is one of President Akufo-Addo’s flagship programs to alleviate unemployment.
He said the initiative has helped reduce the number of youth unemployment in the country.
“The 1D1F is one of the most revolutionary inventions to have been introduced since independence, it goes to the core of bringing industry and development to the doorstep of the ordinary people”
According to him, contrary to critics that the government is rebranding existing factories, the tenants of the program allow for roping in existing factories unto the program.
“Currently, we have 232 1D1F projects that are at various stages of implementation and contrary to criticism that the government is roping in existing companies, indeed whiles the program implementation framework allows for existing companies to be 1D1F companies when you look at the statistics, out of the 232 companies only 64 were existing companies,” he said
He said out of the 232 companies, 76 are fully operating as 1D1F, 107 projects are at various stages of completion and 49 projects will commence construction in the first half of the year
“So far, 56% of those companies are into agro-processing projects, 22% are into general manufacturing, 5% are into meat processing, 4% are into general agriculture and there are other industrial enterprises which constitute 13%” he noted.
Taking his turn at the vetting committee in parliament, the former Minister for Trade and Industry said through the 1D1F initiative government has been able to mobilize GHC2billion from local financial institutions.
He said the government has provided interest subsidies support of GHC213million to de-risk the project for the banks.
“In addition to that GHC603 million imports duties have been exemptions has been granted to 37 1D1F companies” he added.