Ghana Joins Partnerships Corporation

The Ghana Network of the World Industrialisation Partnerships Corporation (WIPCOR) was launched in Accra on Thursday with a call on members to bring on board the building of strong domestic industries to transform the country's economy for accelerated development.

Ms Hannah Tetteh, Minister of Trade and Industry, who made the call, said there was the urgent need to harness human resource and expertise, which involves innovative means through which the country can achieve its goal of industrial transformation. She therefore, asked members of the Ghana Network, to bring their ideas to bear on an industrial policy, which government was in the process of developing.

Ms Tetteh said government was seeking to harness the potential of every sector of the economy by drawing up specific plans for attainment of envisaged goals. The Minister said the objective was to help complement the various programmes that the Ministry of Trade had over the years undertaken to hasten the pace of the country's industrialization.

The four key priority areas to be covered by the strategy are regulatory and incentive regime, technology and innovation, production and distribution and cross cutting issues in industrial development. Mr Francis Mensah, Chief Executive Officer of WIPCOR Ghana Network, said the organisation has been set up to promote partnerships with leaders in Business, Academia, government and industry to develop a national industrialization-led economy strategy for the country.

He said through the organisation a core of industrial entrepreneurs would be developed to provide viable industrial projects and in the process create employment. Mr Mensah said the country urgently needs to address economic development through industrial advancements in manufacturing, engineering, agriculture, among other things and called for foreign investment in the manufacturing sector rather than trading.

He also urged the banks and other financial institutions to support new and existing industries. As part of the ceremony a National Industrialisation Captains Fund was launched to help in funding viable industries, build capacity of entrepreneurs and undertake advocacy in industrial development.

Source: GNA