Industrial Transformation

Promote value addition in industries, establish anchor industries, create Industrial Parks, and support Small and Medium Scale enterprises. This will build on the successes of Government's Ten Point Industrial Transformation Programme, namely; Stimulus Package for Existing Local Industries - facilitating access to medium and long-term capital for industrial development particularly for local industrial enterprises. One District One Factory (1D1F) initiative - providing support for the private sector to establish at least one medium to large scale industrial enterprise in each of the 260 Districts, based on their natural resource endowment and their comparative advantage. New Policy recommendations to achieve Industrial Transformational will include:

• Government will ensure that Banks lends 10% of the banking sector credit portfolio to the manufacturing sector.
• Government will further ensure that the Credit facility is lent at a negotiated rate to ensure competitiveness against imports.
• In addition, Government will offer targeted interest subsidy to strategic manufacturers.
• Government will offer tax and other non-tax incentives to stimulate manufacturing and employment creation. For example rebate of electricity tariff.
• Government will strengthen regulatory regimes at the Ports to prevent importation of sub-standard goods.
• Government will ensure the availability of strategic raw materials for local manufacturing