US Investors to Explore Accra

US investors are expected to visit Ghana next year to participate in a trade and investment exhibition, which will provide a forum for local and foreign entrepreneurs to exchange ideas.

About fifty companies from Ghana, other West African countries and the US will take part in the event scheduled for September 25-28 2002. Companies engaged in sectors such as tourism, textiles, energy, banking and finance, transportation, building and construction as well as equipment and machinery are expected to participate in the fair.

Expo Promotions is the main organizer of the event.

The event dubbed "America and Ghana- Partners in Development," will be a business to business trade and investment fair, where US companies and organisations interested in penetrating the West African marketplace will showcase their products and services alongside American companies already doing business here.

The event, which is supported by the United States Embassy in Accra and co-hosted by the American Chamber of Commerce (AMCHAM), will focus on trade and investment opportunities for US companies both within Ghana and other regional markets approaching 200 million consumers. African Connections is working with the AMCHAM to develop a high level presentation for the conference, which would focus on providing trade and investment solutions to small, medium and macro businesses looking at West Africa for the first time.There will be presentation of case studies by companies already established in the Sub-region's market highlighting the problems encountered on their way to success.

The President of the AMCHAM, Ms. Victoria Cooper on Tuesday underscored the importance the chamber had attached to the event saying, "there is a measure of confidence that the country's economy is on track and the business community here will be looking for some positive evidence of this towards the middle of next year."

She said the event would provide a platform for US companies to demonstrate their capability to the West African regional market. We have little doubt that new alliances will be forged and business transacted at such an important forum, she added.

The Head of the Economic section of the US Embassy, Mr. Michael S. Owen said American investors are not only attracted to the market because of the success stories of others but because of the conducive investment climate prevailing in the country at the moment.

He said while Ghana's trade volumes with the US is relatively small, she remains a strategic market in West Africa and one in which the US government sees tremendous potential.

The Minister of Private Sector Development, Kwamena Bartels hoped the exhibition would open more avenues to kick-start the economy. He said the government is doing its best not to borrow from the public sector so that more money could be available to the private sector.

He said the government has plans to strengthen the capital market and bolster the banks to give long term loans to investors.