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26.09.2013 Business & Finance

Ghana in vigourous pursuit of investments from UK businesses

By Ghana l
Haruna Iddrisu, Minister of Trade and IndustryHaruna Iddrisu, Minister of Trade and Industry
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The Minister of Trade and Industry, Haruna Iddrisu, has assured the UK corporate sector that Ghana is more poised for trade and investment relations with United Kingdom than ever before.

The Minister made these remarks at a high level ministerial round table event on Wednesday, September 18 at the Mayfair Hotel in London. The event was organised by Africa Matters Limited and Barclays Bank Plc under the auspices of the Ghana High Commission.

The forum was used to promote the enormous investment potential and business opportunities that Ghana offers to the world, particularly, to the UK corporate sector.

In his welcome remarks, Mark Simmonds, UK's Minister Responsible for Africa Affairs, who represented the Government of United Kingdom, commended Ghana for the progress made in deepening democratic governance and macroeconomic management thereby providing the right environment for private sector investment.

Haruna Iddrisu in his keynote address, recalled the recent visit of His Excellency the President John Mahama to the UK during the G8 Summit in London where the President and the UK Prime Minister, David Cameron, reaffirmed their commitment to forge a new form of engagement within the framework of the 'New Partnership for Prosperity'.

Haruna Iddrisu underscored the fact that one of the critical ingredients for promoting the new partnership is through enhancing bilateral trade and investment relations between the two countries.

Whilst paying glowing tribute to UK Government for the tremendous support and assistance provided over the years towards Ghana's development agenda, the Minister informed the participants that Ghana remains "an oasis of peace and political stability with enormous opportunities for investment and prosperity".

He said these achievements made Ghana the preferred destination for foreign direct investment in the sub-region.

Pointing out the huge infrastructural deficit, the Minister stated that Government of Ghana is putting in place a new legislation on Public Private Partnership (PPP) to attract private sector operators in the delivery of infrastructure facilities through Build, Operate Train and Transfer (BOTT) and called for massive investments from Corporate UK in the areas of roads, rail, ports, manufacturing, agro-processing, efficient energy, water supply ICT infrastructure, among others.

The forum was also addressed by Alhaji Inusah Fuseini, Minister of Lands and Natural Resources, Cassiel Ato Forson, Deputy Minister of Finance, Mrs Joyce Bawa-Mogtari, Deputy Minister of Transport and John Jinapor, Deputy Minister of Energy and Petroleum.

The Ministers took turn to brief the participants on the investment opportunities in their respective sectors of the economy.

There were also sector by sector and one-on-one meetings with various businesses and corporate bodies where issues ranging from the legislation on the Local Content Law, Revised Ghana Investment Promotion Centre's Act, One-Stop-Shop Centre for trade and investment activities, and acquisition of industrial plots were raised.

Ghana was commended by the various participants for her vibrant and pro-business environment.

The participants also urged the Ghanaian dignitaries to tell Ghana's success stories more vociferously to the world.

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