He said one of the ways local industries could expand their operations and attract the needed investment was for them to move beyond the shores of Ghana and also explore the country’s business relations with the global community.

“Ghana has access to the US and European markets but for local industries to take advantage of these, they must focus on producing more and increasing their operations,” Mr Kyerematen said at a forum to mark the 28th anniversary celebration of the Africa Industrialisation Day in Accra on Tuesday.

The event was organised by the Association of Ghana Industries (AGI), in partnership with the United Nations Industrial Development Organisation (UNIDO).

It was on the theme: “Africa Industrialisation Development, A Pre-condition for Effective and Sustainable Continent Free Trade Area (CFTA).’’

Commenting on how businesses on the continent could thrive, Mr Kyerematen stressed the need for a strong collaboration and trade relations among African businesses.

“This is the time to think of trading among ourselves because a lot of barriers that existed in the past are no longer there to hinder industrial partnerships,” he pointed out.

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New focus

Touching on the government’s agenda of transforming the national economy, Mr Kyerematen said the focus was to use industrialisation to open up the economy, especially in the area of job creation.

He mentioned the one-district, one-factory initiative and the creation of an industrial park in each region as some of the tools the government intended to use to improve the  economy.

“The government is convinced that industrialisation is a major way to address the unemployment problem and also boost Ghana’s development,” Mr Kyerematen said.

He said the government was in the process of rolling out more industrial programmes in the next three to five years, adding that more businesses would be supported and assisted to thrive.

AGI

In his welcome address, a past President of AGI, Dr Prince Kofi Kludjeson, said the African Industrialisation Day created the platform for industry players to discuss issues that hampered the continent’s development.

“The day serves as a reminder to us that more than 30 of the world’s 50 least developed countries are located in Africa,” he said.

Dr Kludjeson said the continent needed to pay more attention to industrialisation, considering the fact that it was key to transforming Africa.

In the case of Ghana, he commended the government for the introduction of the one-district, one-factory initiative, describing it as the key to addressing the unemployment rate in the country.

For his part, the UN Resident Coordinator, Ms Christine Evans-Klock, emphasised the need for Africa to form solid partnerships in the area of doing business.