The Minister of Trade and Industry, Dr. Edward Hinga Sandy has said that the country will soon start to produce oxygen and nitrogen.
“The factory will be manufacturing both medical and industry oxygen and nitrogen,” the Trade Minister said.
He added that this development will see the country cease to import oxygen and nitrogen which in turn will impact the country’s economy.
Minister Sandy spoke about the role his ministry has been doing in supporting local industries including Sunbird in Bombali District.
“When we came in the factory that was producing ethanol, Sunbird was about to shutdown but we gave them sufficient support,” he said.
He said they were able to come out with a policy and a law that was geared towards encouraging consumers to purchase locally produced alcohol.
Minister Sandy also referenced Government’s support in resuscitating the Sierra Leone Flour Mill that was about to close.
Despite the resurgence of some local industries in the West African nation, its economy continues to wallow in what has been described as a murky water.
But Minister Sandy said that it is the expectation of locals is high and as a result not feeling the impact of their effort. He said inflation is everywhere and Sierra Leone is not an exception.
He specifically referenced neighbouring countries like Ghana, Liberia and The Gambia which he said are also experiencing inflation.
The minister refuted comparison with Guinea’s economy while stressing that the neighbouring country has one of the biggest investment in the sub-region.
“Guinea has huge investment; in fact, Guinea is now the biggest miner of iron ore.
“Guinea’s economy is not that flamboyant,” he said.
He noted that their next door neighbour also has it challenges and that Guinean locals now purchase goods in Sierra Leone.
He said they are looking at policy options to ensure that they will be able to curb inflation despite its being a global phenomenon.
“Policy makers are looking at options,” he ended.
Disclaimer: Comments expressed here do not reflect the opinions of Sierraloaded or any employee thereof.
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