Business News of Tuesday, 19 October 2021
Source: www.ghanaweb.live
2021-10-19Four new vehicle assembling plants to be commissioned in Ghana – Trade Ministry
Volkswagen and Toyota have so far established plants in Ghana
• Government plans to enhance its Home-Grown Automotive policy
• The automotive sector is a key driver of economic growth
• Volkswagen and Toyota have established plants in Ghana
The Ministry of Trade and Industry has revealed the government is expected to soon commission four new vehicle assembling plants.
The move according to the deputy
Read full articletrade minister, Ama Dokua Asiamah-Adjei, will position Ghana as a car manufacturing hub in West Africa under the Home-Grown Automotive policy of the government.
Speaking at the Ghana Economic Forum, the deputy trade minister said “our home-grown automotive policy is among the best on the continent. The evidence is this; we have two major vehicle assembling plants in Ghana by major brands and four more in the pipeline to be commissioned soon.”
“The development of the policy is the premise on the fact that the automotive assembling and component manufacturing industry is universally recognised as a key strategic sector for stimulating multiply effects in terms of industrial transformation and as a powerful driver of employment, foreign investments, innovation and economic growth.”
She continued, “One key theme that stands out of our auto policy in respect of homegrown characteristics is its focus on component manufacturing which is designed to ensure that a local supply chain and parts are manufactured for the auto industry.”
The deputy minister reiterated the importance of the automotive sector as vital to economic development.
“I have however been encouraged by a personal conviction that we have as a country with a common purpose to achieve the unimaginable feat and as a beacon of Africa lead development agenda for the continent”, Ama Dokua Asiamah-Adjei stressed.
“Taking cognisance of the fact that all these policies are highly driven by investments, the Ministry [Trade and Industry] is currently coordinating business regulatory reforms programmes to improve the business environment for doing business in Ghana. The programme has been highly underpinned by an aggressive digitization drive. Two key components follow a direct digitization approach with emphasis on providing easy access to policy and process regulations,” she added.
Meanwhile, a number of automobile giants have thus far established vehicle assembling plants in the country. They are Volkswagen and Toyota.
