The Minister of Trade and Industry-designate, Alan John Kwadwo Kyerematen, has hinted of the establishment of an Industrial Development Fund aimed at facilitating access to medium and long term capital for the private sector.
“The important thing is for the private sector to recognize that government is committed to helping it survive,” he told Parliament’s Appointment Committee Monday during his vetting.
He said the government is working to provide a stimulus package for existing companies in order to make them competitive, with the capacity to create jobs.
“Our plan is to make the existing businesses more competitive,” he averred.
The Akufo-Addo government, he said, would concentrate on the continental and regional markets making references to the Africa Growth and Opportunity Act (AGOA), a United States Trade Act, which enhances market access to the US for sub-saharan African (SSA) Countries including Ghana.
Helping the MMDAs
He said the Akufo-Addo government would soon roll out a programme that would set the agenda for decentralizing development at the Metropolitan, Municipal and District Assemblies (MMDAs) levels.
The government, he told the committee, would identify one or two entrepreneurs in each district “who are willing to support viable businesses.”
He noted government is already looking to engage medium to large scale enterprises with the potential to affect the economy of all districts nationwide.
“Whatever government believes is necessary to ensure this business enterprise is realized, we will do,” he assured.