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Manufacturing sector holds key to expand economy – GIPC boss

Aug. 23, 2016, 11:43 a.m.

The Chief Executive Officer (CEO) of the Ghana Investment Promotion Centre (GIPC), Mrs Mawuena Trebarh, has emphasised the important role the manufacturing sector plays in Ghana’s economy.

She said the sector has assisted immensely in the country’s import substitution strategy.

“The manufacturing sector holds the key to expanding the country’s economy as it plays an important role in linking all economic activities to stimulate growth and create jobs,” Mrs Trebarh noted.

To this end, the CEO of GIPC said government’s focus has been on leveraging investment into the manufacturing sector to grow the economy.

Mrs Trebarh was speaking at the 15th edition of the Ghana Club 100 Awards held in Accra last week. The Awards was on the theme ‘Manufacturing, Steering Ghana’s development.’

She said the manufacturing sector provides jobs for many people across the country, making it the heartbeat of Ghana’s economy.

“GIPC, as the leading investment promotion agency in the country, has over the years prioritised the manufacturing sector as a major opportunity area for both local and foreign companies,” Mrs Trebarh said.

Special Guest Speaker of the Awards ceremony, President John Dramani Mahama also urged companies and industry at large to take advantage of the new EXIM Bank to boost their businesses.

The president thanked industry for showing unwavering faith in the economy despite the shake-ups experienced in recent past.  He promised that the year 2017 would be a year for economic rejuvenation.

Newmont Golden Ridge Limited was emerged the best company, followed by the state-owned oil marketing company, Ghana Oil (GOIL).

Golden Star Resources, Total Petroleum Ghana and Ecobank Ghana Limited followed in the third, fourth and fifth positions respectively. UniBank and Zenith Bank Ghana followed in the sixth and seventh positions.