Akufo-Addo, the 2016 presidential hopeful candidate in Ghana under the New Patriotic Party (NPP), has told Ghanaians that he will put the West African nation on the path to industrialization should he win the presidential elections.
Tapping the Bauxite Deposits
The presidential candidate stated that his administration would exploit bauxite deposits found in the Atiwa plains, Nyinahin and Kyebi areas. The establishment of the integrated aluminium industry is expected to offer value –addition to the bauxite mineral mined in the country.
Akufo-Addo stressed that the establishment of the industry would create job opportunities to stem the runaway unemployment and especially among the youth not only in the Eastern Region but the country as a whole. The stability of the country, he said, depended on job security. He envisioned a peaceful and stable Ghana, founded on the prosperity through job creation.
The presidential flag bearer of the NPP party expressed his commitment to the creation of a factory in 216 factories spread throughout the country. There are already 300 projects identified and surveyed with marketing plans and product market being worked out. He said that what was remaining is the implementation of the 1-district-1-factory.
Wealth and Development
Akufo-Addo indicated that industrialization would lead to wealth creation and development in Ghana. He vowed to halt the Accra-Kumasi project which had led to the rural-urban migration of young people, potentially causing underdevelopment in the regions and districts.
Abolishment of Import Duty
The presidential hopeful said that he was going to abolish duty imposed on manufacturing equipment and raw materials. To increase competition in the corporate sector, he said that he was committed to reduce the tax rate by 5 % which would be 20%.
Restoring the Fiscal Balance
Among the policy initiative, the NPP presidential candidate was emphatic that the fiscal balance needed to be restored. The Fiscal Responsibility Act, he said, would be re-enacted to create a relationship between the national reserves and government’s expenditure.
Ghana Investment Promotion Center
Lastly, he pointed out reposition of Ghana to investments through various industries.