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03.06.2004 Business & Finance

Chinese Investors Due Tomorrow

By Graphic
Chinese Investors Due Tomorrow
LISTEN JUN 3, 2004

A 25-Member delegation from China will be in the country from tomorrow to explore opportunities under the garments and textiles industry.

Headed by the Chinese Honorary Consul, Mr Jonah Wu, the delegation comprises accomplished businessmen from the textiles industry in Dongguan, the hub of China's textiles and garments industry. The delegation will visit the PSI Garments Training School and Model Factory in Accra, the Garments Village in Tema and a Ghana-Mauritius company called Belin located at the old GNTC building also in Accra, among others.

The President's Special Initiative (PSI) Secretariat, the Ghana Investment Promotion Centre (GIPC) and the Ghana Free Zones Board (GFZB) are expected to do a presentation to the team at the Golden Tulip on Saturday to let them into the opportunities that exist in the country's garments and textiles industry.

The Co-ordinator of PSI On Garments, Nana Tweneboa Boateng, said in an interview that the visit was in response to an investment and PSI promotions visit they made to China and Hong Kong last September.He said the visit was an opportunity for the country to attract foreign direct investment, which had been dead over the last two years throughout the world.

It would be recalled that India also held her first ever solo exhibition on garments and textiles in the country a couple of months ago.That exhibition was meant to foster unity and partnership between the two countries to explore opportunities in the country's garments and textiles sub-sector.

At that exhibition, the Minister of Trade, Industry and PSIs, Mr Alan Kyerematen, stressed the need for Ghana to form partnerships and co-operate with countries with experience in the industry to set up textiles and garments companies in the country and use the experience and knowledge of the export market to gain market access.

The world's textile market is currently worth some $356 billion and it is expected to grow to about $600 billion by 2010.

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