To this end, he said it required the contributions of the various sectors of the economy including agriculture, energy, science and technology, lands and natural resources and the entire sectors of the economy

He, therefore, urged Ghanaians not to be hunted by the fear of failure but should be inspired by the challenge of success to support the Nana Addo Dankwa Akufo-Addo’s government to achieve industrial and economic transformation.

Mr Kyerematen said this when addressing stakeholders at the opening of the Second Edition of the National Policy Summit, in Accra.

The summit was organised by the Ministry of Information, which featured the Ministry of Trade and Industry, on the theme: “The Industrial Transformation of Ghana.”

The platform was created to inform Ghanaians on government strategies to revamp the economy for sustained growth and national prosperity.

The event brought together captains of industry, Members of Parliament, the diplomatic community, entrepreneurs, traditional rulers, youth groups and a cross section of Ghanaians.

Government policy, he said, should be used as an instrument for change and cited how China, 30 years back, was considered a poor nation, however through two major policy instruments undertaken by their dynamic leader, changed the fortunes of that country for good and made her a super economic power. 

For instance, he said the then Chinese government decided to open up China to foreign investors and not to rely on their domestic market solely.

“We in Ghana also want to use policies as instruments of transforming our economy. So we as a nation have to provide the needed leadership in terms of setting the agenda and leading the implementation process and co-ordinating the contributions of other sectors,” he said.

The Trade Minister expressed optimism that the country would work together on the transformation agenda for socio-economic growth and prosperity for all Ghanaians.

Nana Otuo Siriboe II, Juabenhene and Chairman of the Council of State, who chaired the function, proposed the establishment of Technology and Management Pool comprising retired Ghanaians with expertise in food industry, accounting, management and human resources, from which industries could tap their expertise.

For Ghana to achieve technological-driven and industrial economy, he said government must also provide relief and incentives to industries, institute tariff regime, which would give a competitive advantage to the locally-manufactured products.

In addition, he said government should ban importation of certain products that the nation had competitive advantage and ensuring the compliance of the importation of quality products into the Ghanaian market.

The traditional ruler, who is also a distinguished industrialist, noted that Ghana should employed the use of technology and management solutions for the industries, especially for the ‘‘One District, One Factory’’ initiative