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Economic News from Sunday, March 17, 2019
Source: kasapafmonline.com
2019-03-17
Kojo Oppong Nkrumah is Minister of Information
The Cabinet has approved a policy on Ghanaian content and participation in the downstream oil industry in Ghana.
This policy aims to ensure a downstream oil industry managed and managed by Ghana, able to attract local value-added investment, improved employment opportunities, and local knowledge, skills and technology. in the industry, for the general benefit of Ghanaians.
Speaking to the press in Accra, Information Minister Kojo Oppong Nkrumah said: "The new policy framework covers areas such as: trade, shipping and bulk distribution of petroleum products, development infrastructure in the oil sector, such as the construction of unloading facilities in ports, processing facilities and petrochemical plants.
The remainder includes the supply of oil to strategic sectors of the economy as well as the general purchase of goods and services for the downstream sector.
"While the role and participation of Ghanaians in some downstream activities has grown considerably, the government believes that there is still much more room for Ghana's participation, retention of profits and hard currency, development skills and expertise and increased job creation. locally, "he added.
Energy Minister Peter Amewu will provide further details on the nuances of the policy by activity.
A downstream Ghanaian content committee for oil must therefore be established under the NPA to oversee, coordinate, administer and monitor the development of local content in the downstream industry.
Nkrumah said the government believed such efforts would help strengthen the Ghanaian economy and strengthen the Ghanaian capital.
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