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Accra, September 16, GNA – The Association of Ghana Industries (AGI) has urged the government to facilitate a seamless shift for companies benefiting from the One District, One Factory (1D1F) initiative to the 24-hour economy policy.

Dr. Humphrey Ayim-Darke, president of AGI, who issued the statement, mentioned that AGI anticipates that recipients will be transitioned to more advantageous incentives under the 24-hour economy policy to avoid interruptions in business operations.

He mentioned that the AGI endorsed the government’s 24-hour economy initiative as a strategy to boost efficiency and establish Ghana as a key player in the regional supply network.

We believe, nevertheless, that it extends beyond merely maintaining businesses operating 24/7. It requires a conscious effort to foster resilience, efficiency, and global competitiveness.

For companies, this involves maintaining a dependable energy supply, effective transportation and logistics systems, and policy structures that enable uninterrupted production. Providing incentives for industries is essential, such as a tax exemption system that encourages the growth of business activities.

Dr. Ayim-Darke was speaking at the opening session of the Ghana Industrial Summit and Exhibition and Best Forum 2025 in Accra.

The three-day gathering, taking place from September 16 to 18, is organized in partnership with the Ministry of Environment, Science and Technology as part of its biannual environmental science and technology initiative, along with assistance from other involved parties.

It revolves around the topic: “Harnessing Industrial Capabilities: Effective Methods for Ghana’s Economic Development.”

Dr. Ayim-Darke advocated for coordinated integration and alignment across all government departments to achieve the outcomes of this significant policy, which aims to create transformative economic value within the 24-hour economic framework.

Speaking about the recent rise in value of the cedi, Dr Ayim-Darke mentioned that it has had varied effects.

He mentioned that importers of raw materials and finished products had gained from lower foreign exchange costs, while local manufacturers were facing growing pressure because of the increased availability of cheaper imported parallel items.

“This advancement is leading to an unbalanced competitive environment, posing challenges for local industries to maintain their competitiveness,” he noted, highlighting that illicit imports, such as drinks from nearby countries, are interfering with the local manufacturing operations of firms like Guinness, Coca-Cola, and other related beverage companies.

“This parallel import circumvents standard regulatory inspections or avoids proper tariffs, providing them with an unfair cost benefit, while local producers who adhere to strict quality and tax regulations end up at a disadvantage. We call on regulatory authorities to implement their different requirements to address these market issues, and we can confirm several cartels that have colluded to interfere with our activities across the border,” he added.

Dr. Ayim-Darke stated that industrialization was more than just an economic goal; it was a national requirement.

No nation has attained wealth without building a strong manufacturing sector. For Ghana, the chance is evident.

Our inherent resources, skilled workforce, and advantageous geographical position place us as a possible key center for manufacturing and processing in West Africa.

The difficulty, nevertheless, is in harnessing this potential to reshape our economy, generate quality employment, and boost competitiveness, he mentioned.

He advocated for a fair electricity tariff structure, infrastructure development, and asset investment within the energy sector to maintain competitiveness and reliability, enabling industries to operate and generate employment.

“Without intentional policy and regulatory actions, local industries face the danger of becoming less competitive, which might hinder the industrialization plan and sustained economic development,” he further stated.

He called on the government to examine implementing rigorous import regulations to limit unjust competition from substandard or uncontrolled parallel imports and to encourage domestic producers.

GNA

Edited by Christian Akorlie