Here are the Possible Solutions to the Problems of Manufacturing Industries mostly in tropical africa and other parts of the world.
1. Development of financial institutions for advancement of capital for industrial development. Finance houses like the stock exchange, merchant banks, industrial banks, mortgage banks, etc. can help the flow of capital to industries.
2. Research and planning: Establishment of research centres to study market behaviour collect information on industrial goods and disseminate findings of research on goods will promote industrial research on goods will promote industrial development.
3. Favourable goverment policies: Sound industrial policies by government, especially roads, sea ports, airports, and on import and export duties will reduce the high cost of industrial establishment.
4. Encouragement of raw materials research institutions: Adequate funding of research institutions on raw materials utilization and technological development will reduce most of the problems of industrial raw materials.
5. The problem of poor industrial linkages can be solved by the enlargement of the home markets. This can be made possible by the simultaneous expansion of a large number of industries which buy one another's products.
6. There is great need to widen and diversify the domestic markets by creating regional groupings of one kind or another like ECOWAS (Economic Community of West African States).
