{"id":57595,"date":"2023-10-23T08:52:20","date_gmt":"2023-10-23T08:52:20","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/were-making-progress-in-restoring-macroeconomic-stability-akufo-addo"},"modified":"2023-10-23T08:54:12","modified_gmt":"2023-10-23T08:54:12","slug":"were-making-progress-in-restoring-macroeconomic-stability-akufo-addo","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/were-making-progress-in-restoring-macroeconomic-stability-akufo-addo","title":{"rendered":"We\u2019re making progress in restoring macroeconomic stability \u2013 Akufo-Addo"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>President Nana Addo Dankwa Akufo-Addo, Nana Addo Danowa Akufo-Addo has underscored that Ghana is making progress in restoring macroeconomic stability and determination to return the nation onto the path of sustained growth.<\/b><\/p>\n

He indicated that restoring macroeconomic stability will inure to the benefit of the private sector.<\/p>\n

The president said these on Tuesday, 17th October 2023, when he commissioned the Second Phase of the Sinotruk Vehicle Assembly Plant, in Tema under the government\u2019s flagship 1-District-1-Factory initiative.<\/p>\n

Simultaneously, he also cut the sod for the commencement of work on the Third Phase of the Sinotruk Project, 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.<\/p>\n

Speaking at the event, 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 \u201ctestament to Sinotruk\u2019s confidence in the growing trajectory of the truck assembly business in Ghana, as well as in rebounding of the Ghanaian economy.\u201d<\/p>\n

Whilst extending government\u2019s profound gratitude for Sinotruk\u2019s forward-looking vision, he assured them of the unflinching support of government to the continuous development of a business-friendly atmosphere, where businesses can grow and grow.<\/p>\n

This commitment, he added, \u201cis seen in government\u2019s 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 major player in the haulage, construction and distribution sub-sectors of the economy.\u201d<\/p>\n

According to the President, \u201cWhen I first visited the Kpone-Katamanso Plant on Thursday, 30th August 2020, I recall how impressed I was with the effort to develop this facility for the assembly of heavy-duty and light trucks in Ghana for the domestic and regional market. I also recall the promise made to me by Madam Yang Yang, the dynamic and hardworking Managing Director of Sinotruk, that she, together with her partners, are committed to building a world class facility for the assembly, in Ghana, of heavy-duty trucks for the West African market.\u201d<\/p>\n

Three years down the line, President Akufo-Addo is happy to note that, \u201cwith the completion of this second phase and the commitment to investing further in a third phase, the fulfilment of her vision is almost accomplished.\u201d<\/p>\n

He described establishments such as Sinotruk as having \u201cdemonstrated how major players in the import and distribution chain have taken advantage of strategic interventions, such as the 1-District-1-Factory initiative, to transition from being mere importers and distributors of trucks, to establishing assembly plants for both domestic and export markets.\u201d<\/p>\n

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.\u201d<\/p>\n

Additionally, he noted that the new assembly plant will double employment in the company, from 356 to 700, and create 1,000 indirect employment opportunities, adding that \u201ca unique feature of Sinotruk\u2019s operation is the state-of-the-art training centre, established on these premises, to train artisans in the application of appropriate technology and skills to build their capacities in the processes of assembly, repair and maintenance.\u201d<\/p>\n

With Government not oblivious of the challenges confronting the manufacturing sector, President Akufo-Addo was convinced that \u201cthe 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.\u201d<\/p>\n

Source: 3News.com<\/b><\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. President Nana Addo Dankwa Akufo-Addo, Nana Addo Danowa Akufo-Addo has underscored that Ghana is making progress in restoring macroeconomic stability and determination to return the nation onto the path of sustained growth. He indicated that restoring macroeconomic stability will inure to the benefit of the private sector. The president said these on […]<\/p>\n","protected":false},"author":84,"featured_media":57594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[5092,5096,429],"class_list":["post-57595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nWe\u2019re making progress in restoring macroeconomic stability \u2013 Akufo-Addo - Ghana<\/title>\n<meta name=\"description\" content=\"President Nana Addo Dankwa Akufo-Addo, Nana Addo Danowa Akufo-Addo has underscored that Ghana is making progress in r ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/were-making-progress-in-restoring-macroeconomic-stability-akufo-addo\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We\u2019re making progress in restoring macroeconomic stability \u2013 Akufo-Addo\" \/>\n<meta property=\"og:description\" content=\"President Nana Addo Dankwa Akufo-Addo, Nana Addo Danowa Akufo-Addo has underscored that Ghana is making progress in r ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/were-making-progress-in-restoring-macroeconomic-stability-akufo-addo\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-23T08:52:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-23T08:54:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/10\/sm_1698038544.153363.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1031\" \/>\n\t<meta property=\"og:image:height\" content=\"597\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/were-making-progress-in-restoring-macroeconomic-stability-akufo-addo#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/were-making-progress-in-restoring-macroeconomic-stability-akufo-addo\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"We\u2019re making progress in restoring macroeconomic stability \u2013 Akufo-Addo\",\"datePublished\":\"2023-10-23T08:52:20+00:00\",\"dateModified\":\"2023-10-23T08:54:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/were-making-progress-in-restoring-macroeconomic-stability-akufo-addo\"},\"wordCount\":652,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/were-making-progress-in-restoring-macroeconomic-stability-akufo-addo#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/10\/sm_1698038544.153363.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/were-making-progress-in-restoring-macroeconomic-stability-akufo-addo#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/were-making-progress-in-restoring-macroeconomic-stability-akufo-addo\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/were-making-progress-in-restoring-macroeconomic-stability-akufo-addo\",\"name\":\"We\u2019re making progress in restoring macroeconomic stability \u2013 Akufo-Addo - 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