Business News of 2014-07-09

Time to turn to Singapore - Private-sector players told

Private-sector players in Ghana have been urged to look to their Singaporean counterparts for business partnerships, considering the huge trade and investment potential that country holds.

The Centre Director of International Enterprise (IE) Singapore, incharge of Middle East and Africa, Mr Ian Lee, who gave the advice at a breakfast meeting in Accra ahead of the Africa Singapore Business Forum (ASBF), said many investors from Singapore had ready funds and were looking for opportunities to explore in Ghana.

According to him, presently, individual private-sector players in Ghana have not shown much interest in forging business deals with Singapore but at the government level, the interest is high.

In an interview with the GRAPHIC BUSINESS, he said trade between Africa and Asia was currently growing, unlike previously, and Ghanaian investors could consider sectors such as oil and gas, water and sanitation, ports and logistics, real estates and agri-business, among others.

“At IE we do not only promote trade and investment partnerships but we also facilitate, even during negotiations and every other follow up. Currently, there is a growing increase in investor interest by Singaporeans in the Ghanaian economy to create a big hub for Singaporean investors in Ghana,” he said.

The IE Singapore’s ASBF is the premier platform for fostering investment, trade and thoughtful leadership between Africa and Asia. Since 2010, the ASBF has brought together close to 1000 business and government leaders from 30 countries to develop opportunities and partnership between these two dynamic regions.

ASBF 2014 is on the theme, “Fostering Investment, Trade and Thought Leadership between Africa and Asia and will address critical issues and identify opportunities for the strategic growth of both regions through presentations and panel discussions, as well as provide numerous networking opportunities.