President Kufuor woos Italian investment

President John Agyekum Kufuor on Thursday commended Italy for playing the advocacy role for less advantaged states and urged the European country to continue to harmonise forces towards improved conditions for Africa.

President Kufuor who was receiving letters of credence from the Italian Ambassador, Mr Giancarlo Izzo at the Castle, Osu, assured the country of Ghana's continued support and co-operation in its efforts to assist Africa, particularly Ghana.

He said Ghana is currently facing economic difficulties that need to be met straight on.

"In order to set a sound footing, government has had to take some tough economic measures to pave the way for a bright future," he said, citing more than 60 per cent hike in fuel prices as one of those bold steps which were inevitable.

"We're happy to do it because we believe that's the way to do it," Mr Kufuor said and asked for the understanding and co-operation from friends of Ghana towards the realisation of government's development goals.

Mr. Kufuor said relations between Ghana and Italy need a boost in favour of economic benefits for both countries.

He said as Ghana's commitment to this, government is working to provide the legal framework to promote and protect Italian investment in Ghana.

President Kufuor expressed gratitude to Italy for her financial assistance to Ghana towards the last general election saying the assistance has helped a lot.

"Ghana is now at the threshold of a truly democratic era in which every Ghanaian citizen would feel part."

He restated his government's determination to provide a transparent and democratic government, which would usher in a golden age for the private sector business development.

Mr. Izzo said his home government is very confident that Mr Kufuor's government will face the difficult challenges of the dawning millennium.

Italy, he said, is committed to finding new approaches in the global challenge of under development, a major issue in the forthcoming meeting of the Group of Seven or Eight to be held next summer in Genoa, Italy.

Mr. Izzo said his country, alongside other member states of the European Union, supports the principles of sustainable, equitable and participatory human and social development.

"The promotion of human rights, the rule of law, empowerment of women and good governance are an integral part of the development and strengthening of democracy."

The Ambassador lauded Ghana for playing a prominent role over the years in peacekeeping and conflict prevention in Africa.

Ghana and Italy have enjoyed fruitful bilateral co-operation.

The Hydro-Electric dam at Akosombo and the Kpong and Weija water works are some areas where Italy has contributed expertise as part of the technical co-operation between the two countries.