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25.02.2006 Business & Finance

Chinese Multinational to invest in real estates in Ghana

By GNA

Accra, Feb. 25, GNA - A Chinese international firm, Urban Holdings, which owns the world's tallest building, "Taipei 101", in Taiwan, is to invest in real estates development in the country.

This comes as a direct benefit from the visit to China by Togbe Afede XIV, Paramount Chief of Asogli, in the Volta Region, between August and September, last year.

Mrs. Lin Shieh Han-Chien, Chairman of the Board, and two other top ranking Executive members of the Corporation, paid a courtesy call on President John Agyekum Kufuor, at the Castle, Osu on Friday evening. Togbe Afede who led them said they had already met with the Ministers of Works, Housing and Water Resources and Regional Co-operation and NEPAD.

It is the first time the Chinese who are into banking, commerce, education, hotel industry, golf course development and real estates not only in their home country but in countries like Canada, Philippines and Taiwan are coming to Africa.

Togbe Afede said in the Philippines for example, their operations covered the building of 10,000 economic housing units, annually, and this, "they are doing under circumstances similar to what we have here." President Kufuor said this would complement Government's efforts at building affordable houses for those in the civil service, teaching, and health profession, among other groups. He said Ghana was making giant strides not only with her democracy, political and economic stability but that the "Government is also pro-business.

"The country is ready for investments and any business entity should take seriously, the open atmosphere and business friendly arrangements we have here, including the Free Zones and human resources."

President Kufuor said Ghana wanted to strengthen its relations with China.

He praised Togbe Afede for his enterprising spirit and leadership in the development of the country.

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