The Minister of Local Government, Decentralisation, and Rural Development, Mr Martin Adjei-Mensah Korsah, has urged the Metropolitan Municipal and District Assemblies (MMDAs) to streamline and implement the new Local Economic Development (LED) Policy and initiatives at the MMDA level.
That would create economic opportunities aimed at reducing poverty and promoting inclusive growth. He said LED had become a crucial global strategy for economic planning, and over time, it had been recognized as a key role for local governments, focusing on creating conditions that effectively used local resources to drive economic growth.
“Our actions today align with Target 3 of SDG 8, which aims to support development policies that boost productive activities, create decent jobs, foster entrepreneurship and innovation, and promote the growth of micro, small, and medium-sized enterprises by improving access to financial services,” he added.
He said the new policy cycle took cognizance of the African Union Agenda 2063, as the overarching strategic framework for Africa, which is: “A global strategy to optimize the use of Africa’s resources for the benefit of all Africans, with clearly outlined targets.”
He said the vision was to be self-sufficient to be able to fully harness and utilize local resources for development and contribute to achieving the aspiration of the agenda 2063.
He encouraged all MMDAs to make use of the Manual to better plan, implement, monitor, and evaluate LED initiatives.
The Minister said the LED Policy was a testament to the Ministry’s commitment to creating an enabling environment for micro, small, and medium enterprises to thrive.
He said since the inception of the LED Policy in 2013 and its subsequent review in 2020, they had recognized both the progress made and challenges faced in implementing those policies.
He said it should not just be seen as a policy but a call to action for all stakeholders to collaborate, innovate, and work together for the betterment of the communities.
