SUSTAINABLE JOB CREATION THROUGH INDUSTRIALIZATION – THE ALAN FACTOR
Nana Yaw Koranteng writes,
Ghana certainly on the move. Toyota follows VW, Nissan, Sinotruck and Katanka in setting up vehicle assembly plants in Ghana.
The strategic objectives of the Ghana Automobile Development policy speaks to a well conceived program which will spill over into certain sectors such as rubber, glass , leather, engine manufacturing etc. eventually.
Some of the strategic objectives of the Ghana Automotive Development Policy are:
To establish a fully integrated and competitive industrial hub for automotive manufacturing in collaboration with the private sector – global, regional and domestic;
To generate highly skilled jobs in automotive assembly and the manufacture of components and parts, with spill over effects into other sectors of the economy;
To establish an asset-based vehicle financing scheme for locally manufactured vehicles to ensure affordability for vehicle buyers;
To improve balance of payments through competitive import substitution and export market development. ( vehicle imports is in top 4 of imports ).
To improve vehicle safety and environmental standards.