HomeBusiness1D1F: Good news for private sector investors

1D1F: Good news for private sector investors [Audio]

Government has pledged readiness to support any private sector investor who is ready to invest in any community to industrialise the country.

Deputy Minister for Trade and Industry, Michael Okyere Baafi, made this known on Adom FM’s morning show Dwaso Nsem Friday.

The government, he said, will support firms by matching suitable investors and offer a range of financial support including asset financing.

He explained the support will be through incentives and waivers.

“We know that these investors would need machines to work with and even raw materials but the government will take care of the duties because that investor is coming to open a 1D1F company.

“Government will also give the investors subsidy in the interest they take and also such 1D1F companies for five years will not pay withholding tax on profit,” he said.

To Mr Baafi, these are good incentives to help these investors to help the policy succeed.

One of the policies of the government’s industrial development strategy is the One District, One Factory (1D1F) scheme that was launched in 2017.

As its name suggests, the programme seeks to establish a factory in each of Ghana’s 254 districts.

The initiative emphasises job creation, as well as leveraging the country’s existing natural resources and competitive advantages.

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