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28.08.2005 Business & Finance

Minister Lauds Sanyo


Accra, Aug. 28, GNA - Deputy Minister of Trade and Industry, Mr Kofi Osei-Ameyaw at the weekend lauded the decision of Sanyo, the global consumer electronics manufacturer, to establish a liaison office in the country, saying it was a demonstration of the company's confidence in the economy.

Speaking at the launch of the Ghana office of Sanyo, South Africa, the Minister said the government's ability to re-engineer and restore the economy of the country had created a conducive atmosphere for investment to thrive.

The liaison office, located in Accra is expected to provide a window for product imports, sales, warranty and after sales services to consumers across the region.

Mr. Osei-Ameyaw said the Ministry had in place special policies to provide assistance to entrepreneurs to support the development of the manufacturing sector.

He said these policies were targeted within a broader programme of private sector development that sought to make the country the gateway to the West African sub-region.

Mr. Osei-Ameyaw urged Sanyo to re-package its investment policy and strategy in the country so as to take advantage of the generous incentives, such as tax rebates, available to investors under the Ghana Free Zones Board.

The Ghana Free Zones Board Act 405, 1995, permits the re-export of imported commodities.

He asked the Company to provide industrial attachment for students of second cycle and tertiary educational institutions, to give meaning to the Ministry's programme geared towards Education and Training for Industrial Development.

Mr. Hirao Noguchi, General Manager, Sanyo S.A. Ghana, said the Company was committed to producing highly durable and effectively maintained electronic, electrical and home appliances and to live up to its social contributions to the community. Sanyo has been a household name in Ghana since th 1960s when a joint state-private company was established between the Government of Ghana and Sanyo Electric Trading Company of Japan under the name Ghana Sanyo Company Limited.

The fortunes of the company however, suffered due to the liberalised trade regime.