Minister of Trade and Industry, Alan Kyerematen, has reiterated government’s commitment to revamping Ghana’s economy for sustained growth and national prosperity through the introduction of certain key policies.

Speaking at the second National Policy Summit in Accra on Monday, on the theme: “The Industrial Transformation of Ghana”, Mr. Kyerematen said, transforming Ghana’s industrial sector demands stringent steps and major policies.

Transformation, however, according to the minister does not come by chance but “requires bold and ambitious policy interventions”.

“I want us to draw our minds back to 30 years ago, China in all respect could have been considered as a poor country but then it took two major policy instruments by a dynamic leader to change the fortune of China. First it was a policy to open up to foreign investors to invest in China and secondly also not to rely on domestic market but to take advantage of the export market,” he stated.

He said, government has drawn a lesson from China’s strategy and ready to collaborate with the private sector, individuals and other stakeholders who are willing to contribute toward implementation of the transformational agenda.

“…we in Ghana will like to use policies as instruments of transforming our economy. To industrialise requires the contribution of different sectors of our economy; agriculture, energy, science and technology, lands and mineral resources; it needs the entire sectors of the economy.”

“My only advice to the people of Ghana is that let us not be haunted by the fear of failure but rather be inspired by the challenges of success,” he stressed.