South Korean Automobile giants, Hyundai and Kia have signed agreement with Ghanaian government to set up vehicle assembling plants in the country by the end of 2022.
Alan John Kwadwo Kyerematen, Minister of Trade and Industry of Ghana, announced the development via his Twitter page on Thursday, April 22.
He said when the firms set up, they would be joining firms like “Toyota-Suzuki, Nissan, Kantanka, Volkswagen & Sinotruck” that are already operating in the country.
The Minister said the Ghana Auto Development programme will create “6,600 manufacturing parts jobs in Ghana”.
He stated;
Pleased to announce that Hyundai & KIA are set to establish assembly plants in Ghana by the end of 2022 to join Toyota-Suzuki, Nissan, Kantanka, Volkswagen & Sinotruck. The Ghana Auto Development programme = 3,600 assembly & 6,600 manufacturing parts jobs in Ghana.
Pleased to announce that Hyundai & KIA are set to establish assembly plants in Ghana by the end of 2022 to join Toyota-Suzuki, Nissan, Kantanka, Volkswagen & Sinotruck. The Ghana Auto Development programme = 3,600 assembly & 6,600 manufacturing parts jobs in Ghana. #InvestforJobs pic.twitter.com/JMHAmlM5VI
— Alan John Kyerematen (@AlanKyerematen) April 22, 2021
The Minister further indicated Germany’s commitment to assist Ghana to establish an auto desk at the ministry as well as the development of some selected industrial parks in the country.
Kyerematen further disclosed;
By the end of 2022, the Ghana Automotive Development Programme will lead to the establishment of four assembly plants; there will be some leading global auto manufacturing companies including Toyota-Suzuki, Nissan, Kia and Hyundai in addition to the current vehicle assembly operations of Kantanka Automobile Limited, Volkswagen and Sinotruck.
In 2019, Ghana announced that it would offer car making companies like Volkswagen and Nissan tax breaks of up to 10 years.
The move, according to the government, was intended to attract such automakers to the West African economy.
Setting up local manufacturing plants in Ghana, according to the government should grow its economy and create jobs.
The new development follows news about other organisations that have announced their intentions to set up factories or African headquarters in the West African country.
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