The Association of Ghana Industries (AGI) has called on the government to demonstrate greater commitment by providing tangible support to local manufacturing firms, enabling them to enhance their production capacity and contribute more effectively to the nation’s economic growth.
According to the AGI, many local companies possess the potential to meet domestic demand but require targeted assistance from the government to unlock this capability.
In an interview with Ahotor News, the Greater Accra Regional Chairman of the AGI, Twornam Akpaloo, emphasized the need for a deliberate strategy to promote locally produced goods, which in turn would help strengthen the cedi and reduce reliance on imports.
“Many of our local manufacturers have the capacity to scale up production and meet demand if given the right support,” Akpaloo noted.
“This includes access to affordable financing, better infrastructure, and a more favorable business environment. By investing in local industries, the government can stimulate economic growth and create jobs, while also reducing the pressure on our currency.”
He added that boosting demand for locally produced goods would not only support the manufacturing sector but also contribute to stabilizing the cedi by reducing the need for imported goods.
“A conscious effort to promote ‘Made in Ghana’ products can have a direct impact on the strength of our currency. The more we produce and consume locally, the less foreign currency we need to spend on imports,” Akpaloo explained.
The AGI chairman also called for policies that create a level playing field for local businesses, making it easier for them to compete with foreign products.
He stressed the importance of government backing in areas such as research and development, tax incentives, and reducing the cost of doing business in Ghana.
In conclusion, Twornam Akpaloo reiterated that strengthening local industries should be a key pillar of the government’s economic strategy.
He urged policymakers to take bold steps in supporting Ghanaian manufacturers, as this would not only enhance production capacity but also promote long-term economic resilience and stability.
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Story by: Osei Akoto (Teacher Kojo) #Ahotoronline.com
