Germany urges Ghana to deepen investment climate

Germany on Monday asked Ghana to deepen the development of her investment climate to attract the required investment and make the economy more prosperous.
Mr Harold Loeschner, German Ambassador to Ghana, said Germany is desirous of taking her relations with Ghana onto a new level. However, it could only do that "if there is rule of law, security and an environment where the private sector is allowed to thrive and is the main mover of the national economy".
Mr Loeschner said this at the beginning of two-day bilateral economic and technical consultations in Accra. Dr Gheysika A. Agambila, Deputy Minister of Finance, is leading the Ghanaian side, while Dr Andreas Pfeil, Deputy Head of Division, Federal Ministry for Economic Cooperation and Development is leading the German delegation.
He said after 40 years, the two countries have agreed to focus on three main areas of cooperation. These are agriculture and food security, especially in the Northern Region, democracy and good governance in the area of decentralization and the development of the private sector.
Mr Loeschner said bilateral consultations with Ghana over the years have proved very fruitful and "worthwhile". "Ghana's outstanding performance in maintaining peace and stability, economic stability and role in ensuring integration in Africa is creditable and will be supported.
"Ghana's anchor as an enclave of stability merits our support," he added. Mr Loschner said cooperation between the two countries would henceforth ensure that development cooperation falls in line with stated objectives in the Ghana Poverty Reduction Strategy.
He said implementation of the processes since the last consultations is on track and the three areas are being followed. However, the Ambassador said, technical implementation procedures have to be tightened. "There are some loose ends and these must be looked at again."
On-going German assisted projects and programmes throughout the country would be assessed during the consultations to find out if they are on track while adjustments are made to achieve stated objectives.
New programmes would also be considered for financial commitments to be made during the next inter-governmental negotiations in Bonn next year. Dr Agambila thanked Germany for her continued support to Ghana since independence during which she has received a total of 860 million euros in financial and technical assistance.
He said the two-day consultations would offer Ghana the opportunity to critically examine all pertinent issues in the areas of cooperation between the two countries and make recommendations to further strengthen the partnership.

Germany on Monday asked Ghana to deepen the development of her investment climate to attract the required investment and make the economy more prosperous.
Mr Harold Loeschner, German Ambassador to Ghana, said Germany is desirous of taking her relations with Ghana onto a new level. However, it could only do that "if there is rule of law, security and an environment where the private sector is allowed to thrive and is the main mover of the national economy".
Mr Loeschner said this at the beginning of two-day bilateral economic and technical consultations in Accra. Dr Gheysika A. Agambila, Deputy Minister of Finance, is leading the Ghanaian side, while Dr Andreas Pfeil, Deputy Head of Division, Federal Ministry for Economic Cooperation and Development is leading the German delegation.
He said after 40 years, the two countries have agreed to focus on three main areas of cooperation. These are agriculture and food security, especially in the Northern Region, democracy and good governance in the area of decentralization and the development of the private sector.
Mr Loeschner said bilateral consultations with Ghana over the years have proved very fruitful and "worthwhile". "Ghana's outstanding performance in maintaining peace and stability, economic stability and role in ensuring integration in Africa is creditable and will be supported.
"Ghana's anchor as an enclave of stability merits our support," he added. Mr Loschner said cooperation between the two countries would henceforth ensure that development cooperation falls in line with stated objectives in the Ghana Poverty Reduction Strategy.
He said implementation of the processes since the last consultations is on track and the three areas are being followed. However, the Ambassador said, technical implementation procedures have to be tightened. "There are some loose ends and these must be looked at again."
On-going German assisted projects and programmes throughout the country would be assessed during the consultations to find out if they are on track while adjustments are made to achieve stated objectives.
New programmes would also be considered for financial commitments to be made during the next inter-governmental negotiations in Bonn next year. Dr Agambila thanked Germany for her continued support to Ghana since independence during which she has received a total of 860 million euros in financial and technical assistance.
He said the two-day consultations would offer Ghana the opportunity to critically examine all pertinent issues in the areas of cooperation between the two countries and make recommendations to further strengthen the partnership.