The proposed Greater Kumasi Industrial City and Special Economic Zone will be a game changer for the industrial transformation of the country, Mr Alan Kwadwo Kyerematen, the Minister of Trade and Industry, has said.
He said countries in Asia had used industrial and special economic zones to catalyse their industrial development and the President Akufo-Addo-led government was also creating industrial paths, especially economic zones, around the country, to promote industrialisation.
“What we are seeking to do is going to be a legacy project, it is going to be the flagship industrial project in Ghana,” he said.
Mr Kyerematen said this when he led a delegation from the World Bank to pay a courtesy on the Asantehene, Otumfuo Osei Tutu II, at the Manhyia Palace in Kumasi.
The visit was for the Minister to brief the Asantehene on the proposed Greater Kumasi Industrial City and Special Economic Zone project, to be established in the Ejisu Municipality.
It was also for Mr Kyeremanten to officially inform Otumfuo Osei Tutu of his resignation as the Trade and Industry Minister.
He said the project was strategic because the Ashanti Region was the confluence of almost nine regions in the country and commended the Asantehene on his role the One District One Factory advocacy.
“You made a commitment by establishing a fruit juice processing company. This is an example for other leaders around the world to follow in terms of supporting government’s industrial transformation agenda,” he said.
Mr Kyematen indicated that Tema had been an iconic industrial initiative but with the onset of the African Continental Free Trade Area (AfCTFA), investors were taking advantage of the opportunities offered to establish industrial enterprises all over Ghana.
Currently the government has acquired 5,000 acres of land for the industrial zones project in communities adjoining Boankra, where the first Inland Port was being built.
The plan is to have different industrial parts within the industrial city.
There will be an agro-industrial park, which will concentrate on foods and beverages, garment village, pharmaceutical park, new technology and innovation centre, mineral processing zone, financial services sector, hospitality and entertainment enclave.
The World Bank has put in about 30 million dollars as initial investment to develop the off-site infrastructure to attract private sector financing.
The government has also made a request to the South Korean Government for $150,000,000 to extend the off-site infrastructure.