Govt, Maersk Open Negotiations

THE government is negotiating with one of the world?s leading shipping lines, Maersk, to sign a memorandum of understanding (MOU) to establish a container terminal at the Takoradi Port for its operations for the sub-continent.

If the deal goes through, Maersk Shipping Line intends to invest at least $500 million within the next few years for the establishment of the container terminal, which will serve as the hub and receive bigger vessels for re-distribution to smaller ones in various countries on the continent.

Presidential Spokesperson and the Press Secretary to the President, Mr Kwabena Agyepong, who made this known in an interview, said the emergence of Maersk in the country and other business giants, such as ALCOA/VALCO, Newmont, AngloGold Ashanti and the Arab Gulf Company, ?is symptomatic of the positive image that this government has been able to carve for this country?.

He also cited the $300 million that the country was expected to benefit from from the Millennium Challenge Account (MCA), after it had passed very stringent set of criteria to qualify for the facility.

Ghana was one of seven African countries to qualify for the MCA out of a total of 75 countries which applied for it.

Mr Agyepong said for President Kufuor to be invited to attend the G-8 Summit for the second consecutive time within his short term in office, ?is testimony to the sterling leadership that he has shown,? adding, ?It?s a clear stamp of approval of the way the President has conducted himself in office, restored dignity and respect to the office of the President and Ghana?s international image.?

He expressed the government?s appreciation to the Chiefs and people of Kumawu in the Ashanti Region for releasing more than 25,000 hectares of land to support the President?s Special Initiative (PSI) on Oil Palm as their equity and encouraged other traditional leaders, landlords and estate owners to join business operators to undertake investment initiatives.

?We want the Ghanaian business community to recognise that the government is ready to support them in a big way and that we are with them to scale all the obstacles and challenges that they face in our attempt to realise the Golden Age of Business,? he assured the business community.

Mr Agyepong said the economy was on the upswing and the indicators were good, with inflation and interest rates falling.

Commenting on the Bank of Ghana?s decision to request commercial banks to reduce their secondary ratio from 35 per cent to 15 per cent, he said the decision would allow the banks more room for lending, especially to the private sector.

Mr Agyepong was happy that the money being released by the banks was going into the productive sectors, such as manufacturing, and said that was in line with the government?s vision of trying to take the Ghanaian business community away from commerce, particularly, ?buy and sell?, to the more productive areas of agro business and industry.

Mr Agyepong said the Ministry of Private Sector Development and the President?s Special Initiatives had been able to secure $10 million from the U. S. African Development Fund this year and about $15 million from the Italian and Danish governments to support small and medium enterprises (SMEs), mostly in the agro business area.

According to him, the funds would be used for irrigation projects on the Afram Plains, Awutu-Senya in the Central Region and Savelugu-Nanton in the Northern Region to support all-year-round farming.