Vice-President Dr. Mahamudu Bawumia
GHANA IS on course to becoming the automotive hub in West Africa, Vice-President Dr. Mahamudu Bawumia has said.
He said Japanese automobile giant, Toyota, were expected to establish their assembling plant in Ghana next year.
Dr. Bawumia revealed this in a recent presentation during the Nation Building Updates at the University of Ghana.
According to him, in the next two years, under the government’s One District One Factory policy, government will establish factories in each district across the country.
He stated that the industrialization agenda was aimed at, among other things, creating jobs and livelihoods for Ghanaians.
He stated that the President Nana Akufo-Addo’s government had, since taking office, created some two million jobs.
“We are impacting on the lives and livelihoods of Ghanaians every day,” he said.
He added that government was also digitizing, modernizing and transforming the Ghanaian economy.
Stable Economy
The Vice-President also observed that government had worked hard to put the economy on a sound footing.
He said Akufo-Addo’s government had been able to stabilize the Ghanaian Economy over the last four years.
“In four years we have stabilized and grown the economy,” he said.
According to him, Ghana’s external payment position was in good shape.
He stated that government had worked thoroughly to clean up the mess it inherited in the financial sector.
“We have cleaned up the mess in the financial sector that we inherited,” he said.
He said the current depreciation of the Cedi was the lowest for any first term government since 1992.
According to him, the strong economy government has built has enabled it to provide the basic needs of Ghanaians and to withstand the shocks posed by the Covid-19.
He added that Bank of Ghana had been able to maintain the interest rate for long.
By Melvin Tarlue