Accra, July 10, GNA - The government, through the Ministry of Trade, Industry and Presidential Special Initiatives has initiated a "New Industry Reform and Accelerated Growth Programme" that would help provide the foundation for the needed growth of Ghana's economy.

The programme would involve the development of an export-oriented industrialization drive, focused on agro-processing and manufacturing activities that would include mass mobilisation of the rural communities and other vulnerable groups.

It would also involve the development of a comprehensive import substitution industrialisation programme targeted at producing locally, 70 percent of all non-petroleum government imports as well as 50 per cent of all processed food and agricultural products imported into the country by individuals and companies.

Mr Ishmeal Ashitey, Minister of State, at the Ministry of Trade, who announced this in Accra on Thursday at the launch of the "Industrial Pinacle Award" (IPA) programme said, to bring the growth programme into fruition, a technology improvement policy to facilitate it had been adopted.

The policy would facilitate technology audit, retooling of obsolete equipment, sub-contracting and packaging.

The Pinacle award has been designed to reward entrepreneurs, business executives and Ghanaian individuals both at home and abroad for excelling in their chosen fields of endeavours.

It would identify and unearth existing and potential talents and skills in both corporate and non-corporate Ghana in three categories of enterpreneurship, technology, education and research.

It is being instituted by the Industrial Pinacle Africa Network, a subsidiary of Sound and Vision Multikom Network Limited, in collaboration with Association of Ghana Industries, (AGI) Ministry of Trade and Industry, National Board of Small Scale Industries, Ghana Chamber of Mines, and other organisations.

The Pinacle award would highlight the achievements and successes of nominees in their respective categories and the first award is scheduled for March 2004 to coincide with the celebration of Ghana's Independence Day activities and would be held yearly.

Mr Ashitey, who represented Vice President Alui Mahama, commended the organizers of the award and urged AGI and other similar award organisers to bring the various private sector award initiatives under a common fold to avoid duplications.

Mr Abu-bakar Saddique Boniface, Deputy Minister of Trade and Chairman of the IPA explained that selected winners from all over the country would be awarded with prizes ranging from financial support for production, technology and consultancy services, industrial or life insurance, certificates and plaques, and trade promotion in both local and international markets.

He said such an award for Ghana's development partners was indispensable in the drive of getting her onto the global market. Reverend Dr. Mensah Otabil, Chancellor of the Central University College who chaired the programme expressed the hope that the programme would reward quality work and achievement to make it unique and of higher standard.