Tony Oteng Gyasi, Chief Executive Officer (CEO) of Tropical Cables and Conductors, has stated that industrialization is a major strategy the government can incorporate to provide middle class jobs for Ghanaians.
“I believe it’s only industrialization that can provide us with the kind of long-term, sustainable middle class growing jobs that any nation needs,” he said.
Speaking at a public lecture organized by IMANI Centre for Policy and Education, in collaboration with the Embassy of Japan in Ghana on the theme, “Setting the Right Stage for Industrialization: Customizing Asian Experience for Ghana And Africa,” in Accra recently, Mr. Oteng said industrialization is essential for the middle class jobs because a functioning democracy depends on a well-informed and employed citizens.
“Industrialization is also the basis for good governance and people must earn their own income, irrespective of whoever is governing and what people in government are doing, therefore it’s essential to have good governance and industrialization in order to grow that middle class,” he added.
The Ambassador of Japan to Ghana, Tsutomu Himeno, noted that the Japanese government was strengthening its relations with African countries.
“The government of Japan is very supportive of the vision of Ghana Beyond Aid, a vision held by the President of the Republic of Ghana,” he disclosed.
Giving a lecture on the South East Asian Industrial Policies and their Implications for Ghana and Africa, Professor Motohiro Kurokawa, Takasaki City University of Economics, Japan, cited the major strategies for industrialization as Import Substitution Industrialization (ISI) and Export-Oriented Industrialization (EOI).
He covered topics such as the two major industrialization strategies, quality of governance, infant industry protection, public private partnership, tariff control, among others.
“ISI is a relevant trade and economic strategy, which advocates substituting foreign imports with domestic production and the EOI is a difficult strategy of industrialization, but if achieved, it will increase the export of products in a country,” he said.
Mr. Kurokawa pointed out that both strategies can be adopted to boost industrialization.
He reiterated that it’s critical to have a good governing system in order to promote industrialization.
“To have good governance, the government should be able to build good policies, and these policies must be well managed,” he added.
Ambassador of Japan to Ghana Mr. Tsuromu Himeno making his submissions as Prof. Motohiro Kurokawa Takasaki City University of Economics, Japan (left), CEO-Tropical Cables and Cunductors Ltd Dr. Tony Oteng Gyasi (second left), CEO-IMANI Africa Mr. Franklin Cudjoe (extreme left)