Mahama urges Thai investors to pursue 12,000-hectare oil palm project

President John Dramani Mahama has encouraged Thai investors to proceed with plans to establish a 12,000-hectare oil palm plantation and modern processing mill in Ghana, assuring them of the government's support.

He made the appeal on Wednesday, November 11, when Thailand's new Ambassador to Ghana, Thirapath Mongkolnavin, presented his Letters of Credence in Accra.

The ceremony also saw the President receive credentials from 10 other envoys, including South Africa's newly appointed High Commissioner, Linda Vuyolwethu Shongwe.

The proposed investment is currently under discussion between prospective Thai investors and the Tree Crops Development Authority. It complements the government's commitment, announced in August, to develop 100,000 hectares of new oil palm plantations.

President Mahama urged the investors to sustain their engagement with the Authority to advance the project.

"I encourage you to continue the engagement between the Tree Crops Development Authority and prospective Thai investors in advancing the proposed establishment of a 12,000-hectare oil palm plantation and a modern processing mill in Ghana," he said.

He also acknowledged the contributions of existing Thai businesses, including Thai Union Group and Indorama Ventures Packaging, describing their investments as valuable to Ghana's economy.

The President welcomed growing interest from the Thai business community and called for further investments in manufacturing, agriculture, agro-processing technology and infrastructure.

He further expressed Ghana's support for ongoing discussions towards a bilateral investment treaty and the establishment of a Ghana-Thailand Business Council, initiatives he said would facilitate trade and provide greater protection for investors.

The latest engagement follows a meeting on Tuesday between Foreign Affairs Minister Samuel Okudzeto Ablakwa and Ambassador Mongkolnavin, during which they discussed cooperation in rice production, labour mobility and Ghana's bid to become a BRICS partner country.

Ghana's efforts to attract Thai investment have also involved the Bank of Ghana Governor, who travelled to Thailand in October to promote investment opportunities in the country.

Reaffirming his government's commitment to strengthening relations between the 2 countries, President Mahama said Ghana was ready to deepen cooperation with Thailand in areas of shared interest.

"Ghana is ready to work closely with you and reaffirms its commitment to deepening bilateral ties with Thailand, which are founded on mutual respect, shared interests and a common desire to promote economic growth and development," he told the ambassador.