Government’s industrialisation drive has yet received another boost from the private sector as some Italian investors have expressed interest in the small and medium scale enterprises (SMEs) in the Shama District.
The investors, led by a delegation from the Marche Region, a highly industrialised area in Italy and the Member of Parliament for Shama, Ato Panford, paid a working visit to the district assembly last Tuesday to assess business prospects in the district.
The visit was to consolidate a sister-city partnership between Shama District and the Italian Region of Marche, which seeks to create businesses and manpower through innovation, technology and education.
Member of Parliament for Shama, who doubles as the Chairman of the National Board of Small Scale Industries, Hon Panford said SMEs constituted a chunk of businesses in the country and the world as a whole.
He noted that SMEs also present some potential that with the right participation from the private sector could drive industrialisation and the economy of the country.
“There is a huge opportunity for us to ride on the President’s 1 District 1 Factory initiative. If you have an economy where almost over 80% of it is based on SMEs as the spine of the economy, then I think we should rise up to do something differently,” he urged.
The initiative is expected to identify and tap into business prospects in all over the country.
However, Mr Panford justified that Shama District had a competitive advantage and the right conditions to nurture and grow such enterprises in the Western Region.
He referenced the Aboadze Thermal Plant as being a major power source, the free zones enclave and abundance of raw materials as vital ingredients for the establishment and sustenance of industrialised businesses.
“I am anchoring on Shama because of its dynamic position. We are close to the sea port, we have a free zones enclave, the gas pipeline… all coming through Shama and you ask yourself we generating thermal power over 40% of the requirement and you want to sit and distribute the power without utilising it? I can’t sit down, I get angry when things are not being done,” he expressed.
He added that adequate financial provisions had been made through the 1 District 1 Factory Initiative to support the project.
“Access to capital has been one of the key things. But then with the 1D1F initiative you will find that there’s access to capital component in it,” Mr Panford assured.
Legal Adviser for the Italian investors, Mauro Guardati, was convinced the Shama District had the right catalyst for the establishment of industries.
He explained that Italian companies have been exploring foreign markets so they could expand their businesses and grow technology in viable ventures.
Story: From Simon, ATV, Shama, Western Region