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'Partner Ghana to increase your investment engagements with Africa' – K.T. Hammond woos Chinese investors

By Reporter
Business & Finance 'Partner Ghana to increase your investment engagements with Africa' – K.T. Hammond woos Chinese investors
THU, 20 JUN 2024 LISTEN

The Minister for Trade and Industry, Hon. Kobina Tahir Hammond has called on Chinese investors to partner with Ghana to increase their investment engagements with Africa.

According to him, with Ghana positioned at the centre of the world and also the headquarters of the African Continental Free Trade Area Secretariat, the country is best placed as the preferred investment destination and a gateway to access other African, as well as the EU and US markets, and beyond.

He has thus advocated for Ghana and China to find new avenues for economic cooperation to strengthen commercial partnership between the two countries further.

The Minister, who was on an official visit to China, highlighted Ghana’s coordinated policies designed to maximize entrepreneurial skills for both local and foreign investors. He added that Ghana, underpinned by a renewed urgency and purpose, is more ready than ever to collaborate for mutual prosperity. With the commencement of trading under the African Continental Free Trade Area, Ghana is well-positioned as a gateway for broader African market access.

The Minister invited Chinese investors to capitalize on Ghana's thriving sectors such as manufacturing, textile, automotive, industrial parks, e-commerce, ICT, mining, energy, agriculture, real estate, road construction, and financial services, which are bolstered by an aggressive industrialization drive creating a conducive environment for business.

While in Beijing, the Minister and the delegation took the opportunity to visit some key institutions such as to Beifang International Teaching Aids R&D Institute which holds thousands of national patents and provides customized solutions for training rooms in the automobile industry.

With 100 branches across China and strategic partnerships with leading companies, Beifang expressed interest in collaborating with Ghanaian institutions to offer technical training to Ghana’s automobile industry.

Also on the delegation were the Minister for Energy Hon. Matthew Opoku Prempeh and other officials from Ghana. The delegation encouraged Beifang to establish a training institute in Ghana after which the institute expressed its readiness to work with Technical Universities in Ghana to establish similar centers.

The delegation also visited Zhejiang Free Trade Zone National Lead Import and Export Co. Ltd where discussions were based on potential involvement in Ghana's oil sector. The company expressed interest in financing the development of an industrial park in Ghana, with the potential to bring Chinese companies as anchor tenants. Positive responses were received regarding their interest in the Greater Kumasi project, prompting further direct engagement.

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Started: 02-07-2024 | Ends: 31-10-2024

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