Otumfuo Osei-Tutu II, the Asantehene, has received notification from Alan Kyerematen that he is resigning from his position as minister of trade and industry.
After publicly declaring his intention in running for the New Patriotic Party's flagbearer position in a broadcast, he paid a visit to the Manhyia Palace on Thursday.
Mr. Kyerematen was appreciative of the traditional chief's assistance for the industrialization initiative of his ministry.
"I'm here to publicly inform you that I've submitted my letter of resignation from my position as Cabinet Minister for Trade and Industry, and the President has graciously accepted it, effective as of January 16th.
“I will like to use this opportunity to also thank you sincerely for the role that you have played in supporting the work of the Ministry of Trade and Industry, particularly in leading the 1D1F advocacy in Ashanti,” he told the Asantehene.
The World Bank has established a thirteen million dollar strategic investment fund for the development of the Greater Kumasi Industrial City and Economic Zone project, the former minister for trade and industry also disclosed.
The South Korean government is expected to provide a 150 million dollar facility for the expansion of the off-site industrial facilities.
When the park is finished, according to Mr. Kyerematen, who met with the Asantehene and the World Bank's leadership in Kumasi, it will revolutionize the nation's push toward industrialization.
"What we want to do will be a legacy endeavor. According to him, it will serve as the nation's premier industrial project.
The very top officials in South Korea, he continued, "showed not just curiosity, but a desire to give concessionary finance to facilitate the establishment of the city" during his most recent visit there.
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