President Mahama woos French investors

President John Dramani Mahama on Wednesday urged French and other international investors to take advantage of the conducive business atmosphere in Ghana to invest massively.

He said although there had been numerous investments from the Franchise and other international investors, there were more opportunities in the tourism, agribusiness, pharmaceuticals and education sectors.

President Mahama said this when he addressed the Bordeaux Chamber of Commerce as part of his five-day official visit to France.

The President who had met a similar group in Paris earlier, said tourism was the fourth foreign exchange earner in Ghana, and that there were still more opportunities in terms of establishing first class hotels and the development of tourist sites.

He explained that Ghana had adequate arable land to step up agribusiness and that partnering foreign investors in that respect would be a booster to the Ghanaian economy.

On pharmaceutical production, President Mahama stated that the West African country had comparative advantage in the production of drugs and the capacity to export to other countries in the sub-region since it was about the only producer in the area, apart from Nigeria.

He said Ghana had over the years exported assorted drugs to other countries in the region, and therefore expanding that venture would not be out of place in the coming years.

President Mahama said the development of education was not for Ghana alone as it was admitting students from all over West Africa and beyond. He called on investors to take interest in investing in the education sector, especially in the tertiary, technical and vocational courses.

The President said the springing up of both public and private universities was a demonstration of the robust nature of the Ghanaian educational system which could become a shining example for the region and other parts of the world.

He said Ghana also had comparative advantage in the production of textiles and garments and could export the finished products to other African countries.

Apart from the sub-region, President Mahama explained that Ghana was a member of the African Growth and Opportunity Act and could reach out to greater markets in the United States of America and beyond.

President Mahama said there were also great investment opportunities in light manufacturing, electrical appliances like fridges and the assembling of television and radio sets.

He said although Ghana was currently experiencing energy and power challenges, a number of projects were being undertaken to rectify the situation, adding that there were other avenues in the development of solar, wind and biomass energy where partnership was needed.