General News Tue, 18 Mar 2008

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Ghana has vast tracts of land for investment

From Zee Adu-Asante, GNA Special Correspondent, New Delhi, India

New Delhi, March 18, GNA - Vice President Alhaji Aliu Mahama on Tuesday said Ghana had vast tracts of land to satisfy the demands of the business communities, which wanted to invest in the country. "Ghana is opened to all to support in the direction of partnership investment," he said, adding that the country had over the years achieved a stable democracy and secured a peaceful environment. Vice President Mahama made these observations at a Business and Investment Promotion Seminar in New Delhi, India.

He is leading a 42-member Business Investment Delegation to attract investors into the areas of Agriculture and Agri-business; Oil and Mining Services; Financial Services; ICT; Industries and Manufacturing; Tourism and Civil Aviation.

He said Africa stood to gain from India and encouraged Indian businessmen to invest particularly in Ghana, a land of gold, timber and other natural resources.

He said the country suffered serious post-harvest losses in the production of citrus, pineapples and other agricultural produce and encouraged Indian businessmen to invest in those areas, and particularly in cocoa, which the country processed only 30 per cent of her output. He said Ghana was strategically placed to connect to other neighbouring countries with a good road network linking those countries to the ports.

He thanked the Indian government for the fantastic relationship between the two countries, in the area of ICT and other financial support from India, which he described as "a true partner Ghana can rely on".

Mr Robert Ahomka-Lindsay, Chief Executive Officer of Ghana Investment Promotion Centre (GIPC), said the country had a passion for working with investors and encouraged Indian businessmen to take advantage of the fertile investment opportunities. He said there were vast opportunities in the area of livestock feed and fishmeal production; packaging; cocoa processing and waste management.

He said the GIPC was committed to provide and identify investment opportunities to investors and urged Indian businessmen to take advantage of the golden opportunity.

Mr Arun Agarwal, Chairman of the Committee on International Affairs, said the Indian economy was growing at nine per cent per annum and the country was happy doing business with Ghana. The Ghana High Commissioner to India, Mr John Bentum-Williams said the relation between the two countries had been very productive and beneficial. He, therefore, encouraged Indian businessmen to take advantage of the business opportunities particularly in the area of oil exploration.

Source: GNA

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