Minister-designate for trade, agribusiness and industry, Elizabeth Ofosu-Agyare has observed that the cost of doing business in Ghana is high.
She assured that the Mahama administration will, under the 24 hour economy implementation, take steps to reduce the cost of doing business and production.
Answering questions from the Appointment committee during her vetting, Ofosu-Agyare said “The cost of doing business and production is high. Under 24-hour economy, the government will do things to reduce the cost of production and doing business.”
She further assured that the Mahama administration will fulfil the promise to create the Women Development Bank.
The promise was made by President John Dramani Mahama during the 2024 electioneering campaign.
“Fortunately the Women Development Bank is coming,” she said.
She further espoused how President Mahama’s 24-hour economy will provide solutions to the One District, One Factory (1D1F) initiative by former President Akufo-Addo.
Ofosu-Agyare noted that inadequate raw materials for factories under the IDIF initiative was a key factor hindering the success of the initiative.
She explained that with the introduction of President John Mahama’s 24-hour economy policy during her administration, the challenges experienced by the IDIF initiative will be dealt with.
“I see the solution in the 24-hour economy because in the policy businesses are going to receive economy, agribusiness will play a key role where there will be commercial contract farming which will solve the raw material problem to a very large extent.
“These factories I’m sure will sign on the 24-hour economy and get the benefit of raw materials, tax holidays, etc,” she stated.
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