Government grants import duty exemptions totaling GHG 435 million to 36 companies

President of Ghana, Nana Addo Dankwa Akufo-Addo

• Nana Akufo-Addo says her government has granted 36 companies exemptions on their import duties

• He explained that this is to make them competitive brands even beyond the coast of Ghana.

• He spoke during the commissioning of a factory under the 1D1F

The chairman, Nana Addo Dankwa Akufo-Addo, revealed that a total of 36 companies in Ghana have benefited from import duty exemptions.

He explained that these companies, all of which fall under the government’s One District One Factory (1D1F) program, have benefited from the initiative which totals GH 435 million.

He said such measures have been put in place to help these companies thrive and expand in cross-border markets.

Nana Addo Dankwa Akufo-Addo was speaking on Thursday, June 17, 2021 during the commissioning of the new factory of Premium Foods Limited, a company operating under the government initiative 1-District-1-Factory.

Speaking on the site of the factory, located in Kwaso in the municipality of Ejisu of the Ashanti region, President Akufo-Addo explained that the establishment of the factory is a concrete manifestation that the new paradigm of economic development consisting of insisting on value-added industrial activities in an environment conducive and conducive to business is gaining ground.

“The government remains committed to helping private sector companies such as Premium Foods become globally competitive and thereby take advantage of market integration frameworks such as the African Continental Free Trade Area, including the secretariat. was established and put into operation in Accra.

“To this end, the government, in December 2020, granted import duty exemptions to 36 companies under the 1D1F program amounting to some GHs 435 million. The main sections that have benefited from the exemptions are the ‘agribusiness, ceramics manufacturing, hardware manufacturing and vehicle assembly plants, ”he said.

Speaking at the event, Tom Gambrah, Managing Director and Founder of PFL, said it is a sense of humility for the company as it has exceeded expectations since its inception.

“When we were created, we hoped to create 5,000 jobs. In 2012, we created 25,000 direct and indirect jobs. When this new factory reaches full capacity, we would have created 100,000 sustainable jobs in the value chain, ”he said.

He also explained how rural producers have provided valuable support to their business, adding that they believe in the capabilities of the local industry to help the business flourish.

“Our business depends on rural producers who provide the raw material. Thousands of farmers depend on us to provide a market for their harvest, enabling them to pursue higher yields without fear of the uncertainties of trade, ”said Tom Gambrah.

Over the years, Premium Foods has supplied fortified and unfortified product blends, as well as ingredients to global organizations including international humanitarian organizations and multinational food and beverage manufacturing companies across Africa, including the “Feeding the Future” program, part of the US government’s global program. Hunger and Food Security Initiative, the presidency statement said.

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