On Tuesday, June 29, President Akufo- Addo led the inauguration of Toyota and Suzuki vehicle assembly plant in Accra, Ghana.

In his address, the president stated that the deal with the automotive industry in Ghana is an exciting journey for him, citizens of the country, as well as the Akufo-Addo led administration’s Industrial Transformation Agenda.

He asserted that the presence of automobile industry in Ghana was driven by the government’s strong decision in developing the Ghana Automotive Development Policy supported by the Ministry of Trade and Industry with generous fiscal incentives.

Nana Addo further explained that the factory’s establishment in the country serves as employment opportunities for skilled personnel in the country, as their workforce will be greatly need in the process of manufacturing and producing the vehicles.

Also, it will limit the use of foreign exchange in importing used automobiles and help the country to earn much as they export the vehicles produced in the country to other African countries.

 

According to the president, the government is seeking to achieve its vision to make the country an integrated competitive industrial place for automotive company in West Africa.

President Akufo-Addo mentioned that the company has therefore employed three hundred and thirty-four graduates from various Ghanaian Technical Universities including the Kwame Nkrumah University of Science and Technology.

 

In relation to Covid 19 economic related issues, he revealed that the decision in investing in the company led by Toyota Tsusho is a good move and came just at the right time the government is trying to fix the country’s economy as a result of the pandemic.

By restoring Ghana’s economy after Covid 19, the government in partnership with certain financial institutions will generate an asset-based vehicle financing system which will help government employees acquire the Ghana made Toyota and Suzuki vehicles at affordable amount.

With reference to the Ministry of Trade and Industry’s collaboration with other companies in the country including, Ghana Integrated Aluminium Development Corporation (GIADEC) and Ghana Integrated Iron and Steel Development

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Corporation (GIISDEC) to develop requisite raw materials for the automobile industry, he confidently assured the country of a conducive environment for efficient and lucrative activities of the automotive sector.

 

Additionally, the President said the government has set up a structure to be developed at the South Industrial area in Accra for the company’s operation. The structure identified as Ghana Automotive Development Centre will have sub offices including the Ghana Automotive Development Council to assist in policy implementation at the development sector.

 

These among many other profitable opportunities president Akufo-Addo admonished Ghanaians to anticipate, as the automobile factory begins to operate in the country.

 

He finally sought for all stakeholders’ support for sustainability and pleaded with the management of Toyota to make their products affordable for Ghanaians to buy.

He then encouraged Ghanaians to patronize the locally made vehicles as he and his officials take the initiative in patronizing the Ghana made vehicles for personal use.

Credit: The Presidency, Republic of Ghana

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