The Minister for Finance, Mr Ken Ofori-Atta, has urged Ghanaians to reduce the over-dependence on imported goods and enhance the local production capacity of factories by patronizing made-in-Ghana goods.
He noted that the country could no longer continue to import goods from other countries, adding that the Ministry would continue to work with relevant regulatory authorities to reverse the trend.
The Minister disclosed this in an address to members of the Association of Ghana Industries (AGI) in Accra on Thursday.
He noted that the challenges the nation was currently facing were daunting and that “the exigencies of the moment have forced us to turn this crisis into an opportunity to resolve our short-term challenges and the long-term structural problems that have inhibited our economic transformation.”
Mr Ofori-Atta disclosed that, between 2017 and 2020, rice importation amounted to GHC 6.874 billion, fish, GHC 3.993 billion, chicken, GHC 1.881 billion, meat, GHC 487 million and vegetables, GHS 281 million.
“Clearly, the time has come for us to put in place the foundations that would allow our industry to be the backbone of our resilience and structural transformation,” he added.
The Minister reaffirmed the government’s commitment to assisting local industries to produce more import substitute products such as rice, poultry, vegetable oil, toothpicks, pasta, fruit juice, bottled water and ceramic tiles.
He also touched on the cedi’s depreciation and underscored the need for all to support the government’s drive on import substitution for the stabilization of the cedi.
Mr Ofori-Atta commended the AGI for supporting policies and initiatives meant to help local industries increase production.
Patience Anaadem, ISD
