The Minister of Trade and Industry has ended a sensitization seminar on the National Industrial and Special Economic Zones policies at Njala Venue in Freetown.
During the one day seminar, according to the Minister of Trade and Industry, Osman Boie Kamara said that the Trade Ministry has opted to conduct a joint sensitization on the two policies because of their importance.
He said that the successful implementation of the SEZs in any country is, to a large extent, dependent on a well developed industrial base and attractive tax policies.
He added that the new policies, if properly implemented, will accelerate new technology and skill transfer; improve industrial productivity and competitiveness and open up the country to international trade, improved economic growth, job opportunities, enhance market access, better services and reduced balance of payment problems.
The Trade Minister said that the key results expected from the formulation and implementation of the policies, include the creation of more manufacturing enterprises and expansion of the existing ones, and increased job creation which is part of President Koroma’s Agenda For Prosperity.
In the same vein, the Chief Director and Professional Head of the Trade Ministry, Ahmed Akar Ahmed said that the two policies will not only shape the future development of the economy but will also act as engines of growth for the prosperity agenda.
He further said that the policy reinforces and practicalises the industrial policy in terms of attracting both foreign and local investors to locations that are fairly well developed and strategically located.
He says, “the adoption of these twin policies fulfills our obligation under the West African Common Industrial Policy and the global move towards export promotion based on comparative advantage analyses”.
In an overview, Dr. Shamsu Mustapha explained the industrial policy, while Mereweather Thompson elucidated the SEZs policy.
By Poindexter Sama
Tuesday July 01, 2014