Business News of 2014-05-14

Business community must woo investors

The Member of Parliament for Bortianor/Ngleshie Amanfrom, Mr Bright E.K. Demordzi, has charged the business community in Ghana to woe investors into the country instead of always engaging in importing finished products from other countries.
He said the business community in the country should focus on partnerships, which could lead to the creation of employment opportunities in the country.
Speaking at the end of a business summit in Izmir, Turkey, Mr Demordzi said it was the responsibility of the Ghanaian business community to organise similar business summits to attract established businessmen and industrialists into the country.
He said for instance that the Izmir business summit was meant to showcase to the world, especially Africa, what the Turkish business community and the Industrialists had.
"In a case like that, we don't expect them to ask what we have, but to showcase to us what they have and that is why the summit was more of enticing the African countries to import from them," he explained.
Mr Demordzi said, however, that in spite of that some of the Ghanaian investors had signed business deals that would end up bringing Turkish businesses into the country.
He said he participated in the summit, among other things, to explore in the area of post harvest losses, which had been a major headache for Ghanaian farmers.
The MP said Turkey, which was an agro-based country, had some of the modern methods in the agricultural sector.
Vegetable farming
Mr Demordzi hinted that he was initiating a collaboration between Turkish investors and the Ghana Irrigation Development Authority to produce some vegetables in his constituency as a model for producing vegetable in the country.
He said it was amazing that even in the city centres, every available space was used for vegetable farms through simple irrigation system, adding that it was possible for Ghana to replicate such technology.
"One other area which has also been of great concern for managers of our urban centres has been how to manage the waste we generate.
"Interestingly, Turkey is very advanced in that area, where waste is turned into organic fertiliser," he said, adding that he was also able to sign a deal with a company that was into organic fertiliser production, to see how they could replicate the technology in Ghana.
He said there was the need for Ghana to move away from the use of inorganic fertiliser because all over the world, the catch word had been inorganic fertiliser.
Mr Demordzi said it had been proven that inorganic fertiliser could cause diseases and could even increase post-harvest losses if it was incorrectly applied.
Mr Demordzi said the Ghanaian investors had a lot to learn, especially, after seeing the high level of technology and development during the factory tour session.
The Ghanaian investors toured factories such as furniture, marble, construction and an educational institution to equip themselves with what their likely partners where doing.
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