This is the right time for investment

Accra, Aug. 18, GNA - President John Atta Mills has commended the United States of America for its interest in Ghana's development and invited American investors to increase business with Ghana for good returns.

He acknowledged the US as a partner in development and said government would remove all impediments that stood in the way of investment for the benefits to be translated into the lives of Ghanaians and less fortunate African nations.

"This is the right time for investment; we need investment in every field," President Mills said on Tuesday when a seven-member US Congressional delegation led by Mr George Kenneth Butterfield, Vice Chairman of the Sub-Committee Commerce, Trade and Consumer Protection, paid a courtesy call on him at The Castle, Osu.

The delegation is on a three-day visit to Ghana to build on the strong trade and investment ties between Ghana and the US .

The call for investment comes in the wake of the global financial crisis with the consequent dwindling credit flow, remittances and decline in Foreign Direct Investment.

President Mills said Ghana regarded the US as a partner in development and expressed appreciation for the contributions of the US to Ghana over the years.

"It is an honour and privilege to have you here visiting to day. We've enjoyed very cordial relations as brothers and sisters."

He recalled that the relationship between the two countries dated back to the era of Ghana 's independence, adding that the US had been a big benefactor to Ghana .

President Mills said the US , through its Peace Corps, assisted with teachers when British teachers decided to leave Ghana and American interest in Ghana had not died down since then.

The President also recalled the recent visit of President Barack Obama to Ghana , adding that the US President did Ghana a great honour by the historic and memorable visit which was based on Ghana 's strong democratic credentials.

President Mills stressed the need for investment in all sectors of the economy to raise the living standard of Ghanaians and other countries in the sub-region.

Mr Butterfield praised President Mills for "his extraordinary leadership".

"The US has great affection for Ghana . We are determined to make even stronger the relationship," Mr Butterfield said, adding that there were quite a number of Ghanaian citizens in the US "doing great things".

Mr Butterfield said out of the 350 million people living in the US, about 35 million were of African descent, and announced that the Obama Administration was poised to take the American Government and the African continent and the rest of the world into a brand new direction.

He said there were a number of reasons for strengthening the relationship with Africa and American policy would extend from aid to that of investment, with health, transportation and the development of infrastructure as some areas.

Alhaji Muhammad Mumuni, Foreign Affairs Minister, said the visit of three US presidents in succession - Bill Clinton, George Bush Junior and Barack Obama - stirred fond memories of the cordial relations between the two countries.

GNA