AGI pushes for tax exemption on raw material imports

The Association of Ghana Industries (AGI) has initiated talks with government to push for tax exemption on the importation of raw materials and partially manufactured goods into the country by manufacturing companies.

The move is to support and protect investments made in the country and ensure that goods produced are affordable and able to compete favourably on the international market.

It would also cushion locally produced goods from unfair competition posed by cheap imported goods.

Mr Humphrey Kwasi Ayi-Darke, President of AGI, speaking to the Ghana News Agency (GNA) in an interview, said the current tax regime was biased towards manufacturing..

He added that some products were enjoying tax exemptions so it would be in the right direction for raw materials that were being imported for manufacturing purposes to also enjoy tax exemptions.

“All manufactured goods must enjoy tax exemptions just as agricultural machinery and other equipment”, he stated.

This, he said would create more jobs for the youth and contribute to the manufacturing sector increasing gross domestic products.

According to him, globally, manufacturing makes the economy a real one and a potential to ensure economic growth and development.

It is in this light that the government introduced the One District, One Factory policy to revamp industrialisation.

He indicated that the country must endeavour to wean itself from foreign supply to ensure socio-economic security.

Additionally, manufacturing contributions to GDP had stalled over the years and the youth must endeavour to enter it to improve their livelihoods.

Ms Akosua Amanoh, a young entrepreneur in soap manufacturing speaking to the GNA called on the government to ensure that the youth in the small communities had a feel of the 1D1F policy.

Source: GNA