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30.11.2009 Business & Finance

Canadian, Indian Investors Interested In Oil Industry

By Daily Graphic
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Canadian and Indian investors attending a business forum on the wings of the Commonwealth Summit in Trinidad and Tobago have expressed interest in investing in Ghana’s emerging oil industry.

While the Indian investors are interested in the construction of a new international airport in the Western Region to facilitate oil operations and related business activities, the investors from Canada want to focus on the service sector of the oil industry.

The investors have, therefore, approached President John Evans Atta Mills, through high-ranking government officials who formed part of Ghana's delegation to the summit, to hold talks and make enquiries about Ghana's emerging oil and gas industry.

Briefing the Daily Graphic in Port of Spain on the wings of the summit, Ghana's Ambassador to Cuba, Mr David Sarpong Boateng, who has oversight responsibility for Trinidad and Tobago, said the Indian investors were of the view that the construction of the new airport would go a long way to open the economy of the area and also offer employment opportunities to people of the area and the rest of the country.

Mr Boateng said the Canadian investors indicated their intention to invest substantially in the service sector of the oil industry to facilitate the development of the Western Region and improve the quality of life of the people.

He said the Ghanaian officials explained to the investors the country's investment code and other legal requirements for those desirous of investing in the oil industry and other sectors of the economy.

He said they also explained the oil and gas potential of the country and other areas where the investors could invest.

Mr Boateng said the officials informed the investors that the doors of the country were open to investors from all over the world who were prepared to do genuine business with Ghana.

He said they, however, informed the investors that the government would not tolerate investors who would flout the country's laws with impunity and treat the people with contempt.

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