President Kufuor stresses PSI efforts for industrial development

12 Feb '07

1 min read

President of Ghana, His Excellency John Agyekum Kufuor, delivered the State of The Nation Address to the Parliament on February 8, 2007. According to him, Government had implemented President's Special Initiatives (PSIs) to develop the country into a top agro-industrial nation.

Main purpose of PSI is to promote healthy co-operation between public and private sectors, wherein Government helps the private sector to source resources.

But PSIs have faced serious obstacles, in spite of genuine interest shown by Government and concerned farmers. Notwithstanding, PSIs have good potential to bring in foreign exchange and create jobs.

Government is now trying to re-energize PSIs to increase their competitiveness and functional efficiency.

Nine units were set up previously, which can generate about 4,000 employments, while ten new factories are being constructed in Tema, Kumasi and Koforidua under the PSI for textiles and apparel. As per AGOA Initiative, garment products will be imported chiefly to the US.

Ghana and US Governments will jointly organize a major conference at Accra in 2007, to be attended by all nations holding AGOA status.

Further, assistance will be taken from a Chinese firm to restart Juapong Textiles Company, which is scheduled to begin full scale operations from April and recruit 800 workers.

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