Jospong Group, Komptec in 30m Euro partnership to boost rice production in Ghana

Vice President Dr. Mahamudu Bawumia has employed investors from Austria to take advantage of Ghana's economic and political stability to invest in the country.

Speaking at B2B session with the Austrian delegation led by the Federal Chancellor, Karl Nehammer, in Accra under the auspices of the Foreign Affairs Ministry, the Vice President reiterated Ghana's commitment to a strategic partnership with the private sector and enhanced efforts for industrialization and productive transformation to achieve sustainable economic growth.

He said Ghana is open for business and is eager to forge mutually beneficial and rewarding relationships with Austria.

"As Ghana and Austria seem to forge stronger bonds we have to sustain a such relationship through improved technical and science-based education, technology and also address unfair trade relations among others", he stressed.

He noted that the Austrian Federal Chancellor's participation at this business forum also demonstrates the commitment of the Austrian government to enhance collaboration between the private and public sectors of the two countries for mutual benefits.

He noted that Ghana has a stable political environment, strong democratic culture, and safe and happy people underpinned by freedom of expression.

"In volatile West Africa, Ghana is ranked as the most peaceful country and the second most peaceful country in Africa, he emphasized.

He also noted Ghana has an educated and competitive and trainable labor force which should motivate the Austrian investors to consider investing in Ghana.

He observed the timing for the meeting was auspicious as the devastating effects of COVID-19, climate change and the ongoing energy and food crisis have demonstrated the need for increased global collaboration.

"These global development has amplified protection and distortions of supply chains with ramifications for economies in the continent including Ghana," he stated.

Dr. Bawumia however noted that Ghana has initiated steps to bounce back stronger.

"Ghana had its fair share of these burdens and is making concrete efforts to bounce back stronger, " he stressed.

As we pull together to revive the global economy and secure our future against economic, environmental, and health security threats the contribution of Africa to these efforts cannot be understated.

Dr. Bawumia was pleased to see the union of Jospong Group and Komptec as the two signed a 30 million Euro agreement to support rice production in Ghana.

With the agreement, Komptec will support the Jospong Group rice project with machinery and technology.

"We see prospects of reassuring and making the case for some of your companies to operate from Ghana and export' noted Dr. Bawumia as he witnessed the signing ceremony.