Ghana needs smart partnership to spur dev't

A Deputy Minister of Trade and Industry Ibrahim Murtala Mohammed, has called on Chinese investors to take advantage of the many investment incentives to participate in the emerging business opportunities in Ghana.

Speaking at an investment forum on the sidelines of the 18th China International Investment and Trade Fair (CIFIT), Mr Mohammed said Ghana needed smart partnerships and cooperation to spur its current development agenda.

“We have come to the stage of our development agenda that we believe there is the need for smart partnership and cooperation based on mutual understanding and respect, and I am glad to say that we have found that partner in China,” he said.

The Deputy Minister said the partnership with China should not be defined by past challenges but rather the shared prospects of the future.

Ghana-China cooperation on economy and trade has increased significantly with the bilateral trading volume registering $5.43 billion, as at the end of 2012.

Mr Mohammed told the delegates that investments in Ghana were posting attractive returns and encouraged potential investors to see the peace and the guarantees of the rule of law, as well as the protection of their businesses and persons as compelling reasons to invest in the country.

“Besides, the generous investment incentives, including guarantees against expropriation, which are enshrined in various Acts, government is committed to creating a markedly improved business environment as well as re-positioning the state to proactively deliver support to the private sector,” he said.

In this direction, Government is undertaking comprehensive infrastructure improvement programme, including building of road network, expansion of the ports and harbours and communication to enhance mobility of goods and persons and to promote businesses.

The Deputy Minister said the infrastructure works provided opportunities in many areas for investment either as wholly owned or public private partnership.

Ghana is among the more than 100 countries exhibiting and participating in the 18th CIFIT, which opened on Monday in Xiamen, in the Fujian province.

More than 930 delegations are participating in the fair and investment forum as well as other sideshows.

The four-day event under the auspices of China’s Ministry of Commerce provides a unique opportunity for local and foreign participants to seek cooperation and explore business opportunities.

The Ghana Export Promotion Authority, under the auspices of the Ministry of Trade and Industry, is coordinating the participation of Ghanaian entrepreneurs and institutions at the fair.

About 20 Ghanaian companies and institutions operating in various sectors, including handicrafts, food and beverages, and cosmetics are expected to expose their goods to the global investing public.

This is the second time Ghana is participating in a fair in China. The first was in 2013 at the Yiwu Forest Products Fair.