The Minister of Trade and Industry, Alan Kwadwo Kyerematen, has assured Ghanaians that the future prospects of the country under the Akufo-Addo government are bright.
He has, therefore, urged the public to continue to believe in the Akufo-Addo vision, especially the Ghana beyond Aid agenda being pursued by the government.
Speaking at this year’s Liberty Lecture Series organised by the Danquah Institute (DI) on the topic: “Industrializing Ghana Beyond Aid for An Integrated Africa,” Mr. Kyerematen said the Ghana Beyond Aid agenda which is being driven by industrialization would create sustainable jobs.
He stated that the government had developed a 10-point industrial transformation agenda that would drive the Ghana Beyond Aid agenda.
“All the top 10 countries in the world are countries whose economies are driven by industrialization, and that is why the government’s vision which is also driven by industrialization puts Ghana in the right footing towards a prosperous future,” the minister said.
He gave a trajectory of Ghana’s industrialization history starting from colonial days, adding that the current paradigm of industrialization, which is driven by the private sector with support from public institutions, is the best way to go.
He indicated that the Osagyefo Dr. Kwame Nkrumah industrialization drive could not be sustained because it depended heavily on state capital.
According to the minister, any development policy that depends solely on state capital is bound to fail with a change in leadership.
“That is why the current industrialization drive policy is the best way to go. When the private person leads development, even the change of government does not affect the economic growth of a country,” he indicated.
He stated that what is required of a government in an economy whose development is driven by the private sector is the political will and the commitment to let the private business thrive, adding that is exactly the same way this government is doing.
“Political will and commitment start with articulation of a vision and providing resources for the vision and that is what the Ghana Beyond Aid is doing,” he said.
Mr. Kyerematen added that though the One District, One Factory policy, which is at the core of the industrialization drive to push the Ghana Beyond Aid is private sector led, the country would provide support for other struggling state institutions to thrive.