President Nana Akufo-Addo has commissioned a Cylinder Manufacturing plant in the Central Region as part his two-day regional tour.
The factory operating under the 1-District-1-Factory initiative by the government is the largest cylinder manufacturing plant in the country, something that delights the president who said, “it the first time since I have done so, since becoming president, and it is a day I will not forget.”
APPEB Cynlider factory which was established in January, 2019 currently employs 250 persons and could expand to 500 employees at full capacity.
APPED has installed capacity of 4,000 to 5,000 (6kg /15kg) gas cylinders per day with production capacity of 2000 cylinders per day due to the current market demand.
The President speaking at the commissioning reiterated Government’s continued commitment to providing strategic support to companies and enterprises, such as APPEB,
“We will continue to enhance the existing incentive framework designed to make 1D1F designated companies more competitive and sustainable. The incentives, which include tax holidays, import duty waivers, and interest rate subsidies, are designed to help build the capacities and competitiveness of these enterprises, and to position them for greater productivity and efficiency,” he said.
The president called on Parliament to expedite their work on incentive packages that would be available for investors who intends to come into the country.
“We are waiting patiently for Parliament to give its approval to the fiscal incentive package, and I ask, respectfully, that Parliament expedites action on the matter, which has been, somewhat, delayed. It is important for investors that the legal processes for the grant of the package be completed as soon as possible.”
Source: theGhanaianvoice.com /Mac Lauren
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