Business News of 2014-04-07

Hong Kong woos Ghanaian investors

As part of efforts to promote bilateral trade between Hong Kong and Ghana, the Hong Kong Trade Development Council (HKTDC) has called on Ghanaian businesses to consider Hong Kong as their leading destination for all foreign investments.

HKTDC made the call on Thursday in Accra at the Hong Kong Networking and Business Seminar held to boost trade between Ghana and Hong Kong, China’s business hub.

According to HKTDC, Ghanaian businessmen stand to gain massively from setting up businesses in Hong Kong.

Perry Fung, Africa and Middle East Regional Director of Hong Kong Trade Development Council, who highlighted the numerous benefits that Ghanaian could gain from investing in Hong Kong at the seminar, said Hong Kong has a lot of opportunities for businesses of all kind.

According to him, there was no restriction on importation and exportation of goods and services in Hong Kong, stressing that businessmen conduct their transactions in a free and conducive environment.

Revenue generated annually from trade between Ghana and the Asian zone (Hong Kong) is estimated at about $ 100 million.

According to Gao Wenzhi, Economic and Commercial Counselor of Chinese Embassy, Ghana, 53 Chinese companies in 2013 registered with the Ghana Investment Promotion Center (GIPC).

He indicated that bilateral trade between Ghana and China in 2012 generated total revenue of about $5 billion. In the same year, Ghana ranked the seventh biggest global trading partner of China.

However, there have been several obstacles to effective trade between Hong Kong and Ghana, which include language barrier, lack of technical expertise from Ghanaian businessmen and low capital acquisition within the country.

Meanwhile, Prosper Adabla, Vice President of Ghana Chamber of Commerce & Industries (GCCI), in his welcome address, called for effective collaboration between Ghana and China with regard to trade.

“For Ghana to develop, we need to partner China, he said.

He urged Ghanaian businessmen to take advantage of the China-Africa Development Fund (CAD-Fund).

Source: Daily Guide
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