Site factories in Ghana — Chinese investors urged
The Ghana-China Investment Forum opened in Accra yesterday, with a call on the Chinese business community to consider investing in the manufacturing sector in Ghana, instead of exporting raw materials to China that they could process in Ghana.
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Speakers at the forum, including the Vice-President, Mr Kwesi Amissah-Arthur, and the Minister of Trade and Industry, Mr Ekwow Spio-Garbrah, urged Chinese investors to consider relocating their industries to Ghana.
Mr Spio-Garbrah also challenged Chinese investors to buy their raw materials from Ghanaian companies, instead of importing them from China.
In his view, that made a lot of economic sense, saved investors a lot of hustle and gave them value for money “which also go a long way to boost the Ghanaian economy”.
He indicated that Ghana’s dream was to become the hub and focal point in investment in West Africa.
The Ghana-China Investment Forum is an initiative by the Ministry of Trade and Industry and the Chinese Embassy in Ghana to stimulate, develop and strengthen business relationships between Ghana and China.
It provides a platform for Ghana to present trade and investment opportunities available in the country to the Chinese business community and the exchange and sharing of information between the two countries.
Ghana’s democracy & business
Touting Ghana’s investment-friendly political and social environment, Mr Amissah-Arthur said while Ghana had historically had significant investors in the construction industry, it was now particularly interested in attracting investors into the agro-industry because there were considerable opportunities for job creation.
He said Ghana’s “social and political stability have provided the anchor for the growth of our economy. And we plan to keep Ghana as the most peaceful, stable, friendly, accommodating and best governed country in Africa. As for trade and investments, I think we can do better”.
Collaboration
The Chinese Ambassador to Ghana, Ms Sun Baohong, said the close collaboration between the two countries should strengthen the exchange of ideas, as China had found a development path that conformed to its national conditions.
She also called for enhanced institutional building that thrived on dialogue and cooperation between the two countries.
“We hope that Ghana could roll out more preferential policies and create a more congenial environment for business activities to attract more investors, including those from China,” he said.
The forum also featured an exhibition which had companies from sectors including agriculture, automobile, arts and craft, tourism, sports, cosmetics and real estate participating.
Fact sheet
*Currently, there are over 500 Chinese companies operating in various sectors of the Ghanaian economy.
*Over the last 55 years, trade between the two countries has been on the increase. From less than $100 million in 2000, trade volumes have increased to $6.6 billion in 2015. But the trade flows highly favour China.