The government will soon waive taxes on agro-processing machines, Mr Sampson Ahi, the Deputy Minister of Trade, Agribusiness and Industry has said.
He said the tax incentives were required to boost investor confidence, improve access to technology and modern agro-processing machines, and thereby stimulate economic growth and development.
Mr Ahi said this when speaking at the Bono Regional Agribusiness dialogue organised by the ministry with support from Agri Impact in Sunyani.
The day’s dialogue was on the theme: “Resetting agribusiness for inclusive and sustainable industrial growth” and attended by stakeholders in the agro-business value chain, including processors and entrepreneurs drawn from the Bono, Bono East and Ahafo Regions.
It sought to collect views, share insights, expertise, and comprehensive knowledge towards empowering the ministry to formulate a long-term development plan for the agri-business sector.
The dialogue further identified regional agribusiness priority areas to help turn round the sector’s prospects, including harnessing agricultural productivity for entrepreneurship, commercial seed incubation businesses, small holder inclusive productivity and market access projects.
Mr Ahi stressed the need for the nation to formulate and implement effective policies to make the agricultural sector all-inclusive for women, young people and Persons with Disabilities and thereby create the enabling environment for the private sector to thrive.
He said the government remained committed to retooling and strengthening the local manufacturing sector for job creation and poverty reduction.
Mr Ahi said with support from the International Fund for Agricultural Development (IFAD) under the Rural Enterprise Programme, the ministry had empowered the GRATIS Foundation to manufacture agro-processing equipment for Small and Medium Scale Enterprises.
That included enhancing the capacity of the foundation to design, manufacture and repair agro-processing machines and thereby reducing dependence on imported machines and promoting local content as well.
More so, Mr Ahi added that empowering the GRATIS would enable the government to promote agro-industrialization drive and contribute to the nation’s socio-economic development by creating more job opportunities and stimulating innovation for economic growth.
Mr Joseph Addae Akwaboah, the Bono Regional Minister, commended the ministry for the dialogue that would help unearth and harness the region’s agri-business prospects.
Describing the region as one of the nation’s “agricultural powerhouses”, he said the cashew and poultry sectors had huge potential, saying farmers required modern machines and processors to turn round the prospects for wealth creation.