Over billion dollars invested in Ghana last year by British investors

Accra, April 22, GNA - Dr. Nicholas Westcott, British Ambassador to Ghana, on Tuesday, said British investors in Ghana spent over one billion dollars last year alone, the largest by any country and even a record for the United Kingdom.

"We even look forward to more investment this year," he said and hinted that one UK Company would soon launch its operations in Ghana; "we look forward to trends in investments growing."

Dr. Westcott said the United Kingdom's aid programme was one of the biggest in Africa, contributing over 90 million Pounds sterling mainly in general budget support, relating that to the success of Ghana's democracy.

He made this known at the party to celebrate the Queen's birthday which fell on Tuesday. The birthday party is the 57th since the current Queen of England ascended the throne.

Dr. Westcott said: "The success of Ghana's democracy is an essential element in its attractiveness to foreign investors and in creating an environment that supports local businesses."

He therefore commended Ghana for the conduct of the December 2008 elections and said Ghana had shown the way for other countries to achieve a stable democratic system. Commenting of the relationship between Ghana and the United Kingdom, Dr. Westcott said, "Ghana holds a special place in the heart of Her Majesty and the Royal Family," and announced that President John Atta Mills would be paying an official visit to the UK as a guest of the British government from May 6-8 for meetings with the Prime Minister and other senior government figures.

Dr. Westcott also made comments about the global financial crisis and the recent G20 summit which promised about one trillion dollars additional support, much of which was for developing countries, and said although the additional support would help there was the need to cut spending in order to make ends meet.

"Spending has to be cut in the UK by 50 billion pounds sterling, to make ends meet, though our core aid programme will continue at the same level as last year," he said.

He also announced that there woul d be support from the British Council, Ghana, for sporting and cultural legacies from the London 2012 Olympics and a doubling of opportunities for schools, pupils and experts to link with their counterparts in the UK. Mrs. Betty Mould-Iddrisu, Attorney-General, who spoke on behalf of government, expressed government's gratitude to the UK government for the support they gave to the country and said efforts by the British government and other donors had helped to improve Ghana's chances of attaining the Millennium Development Goals. "Notwithstanding the global financial crisis, the British government has recently announced that it would provide Ghana with 80 million pounds," she said. Mrs. Mould-Iddrisu said Ghana was prepared and willing to work in concert with all stakeholders to address issues such as climate change, rising food prices, drug menace, terrorism, migration and human trafficking. 22 April 09