Ghana: Investment Destination Of Choice

President John Evans Atta Mills

yesterday marketed the country’s business potential to captains of industry in Switzerland, saying Ghana is not only a gateway to the West African sub-region but an investment destination of choice.

Interacting with the Swiss investor community as part of his three-day official visit to Switzerland, President Mills said the government had instituted prudent measures such as the improvement in the infrastructural development, financial reforms and the review of the investment code to promote foreign direct investment in Ghana.

The two-hour meeting, attended by more than 200 Swiss businessmen, was moderated by the President of the Swiss-Ghana Chamber of Commerce, Mr Nicholas Imoden.

President Mills said the government had also retooled the Ghana Investment Promotion Council (GIPC) to enhance its effort at investment drive to attract more investment into the country.

The President said the country welcomed more Swiss investment not only in the mining and industrial sectors but also in areas like education and health, which are crucial to the economic development of the country.

He expressed appreciation to the Swiss Government and the investor community for showing more interest in the economic development of Ghana, which he described as the oasis of peace in the sub-region.

Mr Imoden said investors in Switzerland, who are thrilled about the investment opportunities in Ghana, were interested in the cocoa, mining, tourism and oil industry.

He said Swiss companies like Devag and Nestle had operated in Ghana for a number of decades in ventures which had been mutually beneficial for the two countries.

Mr Imoden described Ghana as the most preferred investment destination in the West African sub-region due to the relative peace and stability the country had enjoyed over the past two-and-a-half decades and the existence of a flexible investment code.

In addition, he said the country also could boast a credible political leadership under President Mills, who had demonstrated to all and sundry of his commitment to transparent government and the rule of law.

Mr Imolden explained that the government had also initiated several interventions such as the reduction in the inflationary rate, culminating in financial institutions also lowering their interest rates.

These interventions, he said, had gone a long way to encourage investors in Switzerland to come to Ghana since they would be have maximum returns on their investment.