1D1F has energised manufacturing sector – President Akufo-Addo

The government’s flagship 1-District-1-Factory (1D1F) initiative, has energised the country’s manufacturing sector, President Nana Addo Dankwa Akufo-Addo has said.

He explained that major players in the import and distribution chain have taken advantage of strategic interventions under the initiative, to transition from being mere importers and distributors of trucks, to establishing assembly plants for both domestic and export markets.

President Akufo-Addo said this when he commissioned the Second Phase of the Sinotruk Vehicle Assembly Plant, in Tema on Tuesday October 17, 2023.

He also cut the sod for the commencement of work on the Third Phase which when completed, will make Sinotruk Ghana Limited, a fully integrated automobile manufacturer in Ghana, with the capacity to supply its assembly lines with domestically manufactured components and parts.

Economy
President Akufo-Addo said the commissioning of the second phase, which represents commercial production of vehicles in the new plant, together with the investments into a third phase of expansion is “testament to Sinotruk’s confidence in the growing trajectory of the truck assembly business in Ghana, as well as in rebounding of the Ghanaian economy.”

Whilst extending government’s profound gratitude for Sinotruk’s forward-looking vision, he assured them of the unflinching support of the government to the continuous development of a business-friendly atmosphere, where businesses can grow and grow.

This commitment, he added, “is seen in government’s vision and creation of structured programmes for achieving industrial transformation, through a supportive incentive framework for a company such as Sinotruk to become a prominent, domestic assembler of trucks, and a major player in the haulage, construction, and distribution sub-sectors of the economy.”

Capacity
The new Assembly Plant of Sinotruk increases the current annual production capacity from 850 trucks to some 3,000 heavy-duty and light-duty trucks, including tipper trucks, wheel loaders, backhoes, trailers, semi-trailers, oil tankers as well as a variety of light-duty vehicles, assembled from semi-knocked down kits, which adhere to international standards of quality and safety.

President Akufo-Addo noted that the new assembly plant will double employment in the company, from 356 to 700, and create 1,000 indirect employment opportunities.

With the government not oblivious to the challenges confronting the manufacturing sector, President Akufo-Addo was convinced that “the progress we are making in restoring macroeconomic stability, and in our determination to returning our nation onto the path of sustained growth, will inure to the benefit of the private sector, including those in manufacturing and commerce, with a positive impact on the reduction of the cost of doing business.”