Business News of Saturday, 21 December 2019

Source: thefinderonline.com

President commissions $23m tomatoes factory under 1D1F

The President assured the companies of govt The President assured the companies of govt

President Nana Akufo-Addo has commissioned a multi-functional industrial complex that would house among others a tomato processing factory at Doryumu in the Shai Osudoku District of the Greater Accra Region.

The industrial park known as the Bright International Free Zones wood also houses a hundred other factories and over a thousand stores.

Commissioning the park and the Leefound Food Stuff Ghana Limited, a tomato processing facility yesterday, the President said the enclave has the potential to create the largest export market in West Africa and lend boost to the Africa Continental Free Trade Area which begins in July next year.

The President noted that the investment by a Chinese conglomerate is an expression of the confidence investors have in the Ghanaian economy.

President Nana Akufo-Addo said the was a testimony of the strong relationship between China and Ghana and was optimistic that more foreign investments would be attracted into the country going forward.

He stated that the Tomato processing factory, a facility Under the 1 District, 1 Factory (1D1F) which is an investment of about $23 million would create some 600 direct jobs for Ghanaians.

The President assured the investors in the enclave of government’s support to create the enabling environment for businesses to thrive and prosper.

He encouraged the chiefs and people of the area to lend their full support for the development of the industrial enclave.

Minister for Trade and Industry, Alan Kyerematen in his remarks said Ghana was on the brink of a great transformation as a result of the successful implementation of government’s flagship programmes that sets the country on the foot for a massive industrialisation drive.

He noted for example that statistics indicate that Ghana imported about a $100m worth of fresh tomatoes in 2018 mainly from Burkina Faso but added that the setting up of the tomato processing facility would leverage on government’s existing programmes in the agricultural sector to ensure food sufficiency and less dependence on the importation food produce from other countries.

He noted further that government’s flagship programmes such as the One District One Factory, the Planting For Food and Jobs are on course for the realisation of this dream.

He added that the tomato factory alone has a great potential of being a foreign exchange earner for the country through the exportation of processed tomatoes to other countries.

He also assured the companies of government’s continued support to ensure that the company survives.

The Chinese ambassador to Ghana, Mr Shi Ting Wang said the Chinese government both at the central and local levels have offered favourable policies for these industrial parks and Zones to promote economic growth.

He was however hopeful that the Ghanaian government would also provide more incentives to the companies in the enclave to attract more Chinese and other investments from across the world into the Zone.

“China and Ghana enjoy profound Traditional friendship and Chinese companies are willing to invest and develop in Ghana”, he added.