The Chief of Staff, Julius Debrah, has said that Ghana is the most convenient destination to do business in the West Africa sub-region.
“When you invest in Ghana, you have the opportunity to export into the other West African countries, Burkina Faso, Mali, Niger, Guinea.
“It's much easier if you use Ghana as your base because we are very close to Europe. We have almost all the airlines coming to Ghana and we have two major ports, which aids international business,” he said.
Speaking at the Ghana-China Business Summit in Accra yesterday, Mr Debrah mentioned the country's strategic location, infrastructure and favourable business environment as most conducive for investment.
Event
The five-day summit is being attended by industry experts and government representatives who are deliberating on opportunities for both countries to trade and invest in.
The programme is being organised by the Sino Africa Group and Perfect World Company Limited (PWCL), in collaboration with the government, on the theme: “Synergising opportunities: Strengthening the Ghana-China relationship and fostering a 24-hour Economy.”
Present were the Presidential Advisor on the Economy, Seth Terkper; the Deputy Chief of Staff in Charge of Operations, Stan Xoese Dogbe; the Deputy Minister of Agriculture, John Dumelo, and the CEO of the Ghana Tourism Authority, Maame Efua Houadjeto.
Ghana-China relations
The Chief of Staff said Ghana and China have had a long-standing relationship since 1960, with both countries recording high trade volumes, creating opportunities for growth and development.
“Looking at the records, in 2023, Chinese exports into Ghana totalled over $3.7 billion, whereas Ghana exported only $1.8 billion.
“What this suggests is that we need to find a way to try and bridge the gap,” he said.
The Chief of Staff said statistics from the Ghana Investment Promotion Centre (GIPC), reported that more than 560 Chinese businesses were registered in the country, with over 100 manufacturing entities already operating in the country.
He attributed this to Ghana's business-friendly environment, and encouraged more Chinese manufacturers to establish more manufacturing centres, including assembly plants in the country.
The President's vision, according to Mr Debrah, was to encourage Chinese investors to take advantage of Ghana's strategic location, coupled with its favourable business environment.
“What that tells us is that at least Ghana is not a bad place to do business,” he added.
Mr Debrah mentioned petrochemicals, housing, automobile, electric vehicles, tourism and agriculture as some of the sectors they could invest in.
The Chief of Staff further urged Chinese investors to take advantage of the government's flagship 24-hour Economy programme, which is aimed at increasing production, building capacity and providing incentives for businesses, to invest in the country.
The Group Chief Executive Officer of Sino Africa Group, Chen Xiaowei, expressed gratitude to the government of Ghana for creating a competitive and conducive environment for Chinese businesses to grow.
He eulogised the business partnerships his company has had with their Ghanaian counterparts over the years and said there was the need to deepen collaborations for their mutual benefit.
Collaboration
In an interview with the Daily Graphic on the sidelines of the summit, the President of the Ghana Union of Traders' Associations (GUTA), Joseph Obeng, called for collaboration between Ghanaian businesses and Chinese investors.
He said such partnerships would enable Ghanaians to learn from Chinese investors and acquire the necessary technology and expertise to boost industrialisation.
Mr Obeng also underscored the significance of the African Continental Free Trade Area (AfCFTA) and the government's 24-hour Economy policy, which he said could help increase production capacity and promote economic growth.
The president further expressed appreciated to the Chinese for their government’s decision to waive tariffs on exports from African countries, saying it had positioned China as a preferred business partner of Africa.
He expressed gratitude to the government for organising such an event and encouraged more initiatives to support the private sector's growth and development.
