Veep invites Chinese private sector investors
Vice_President Kwesi Amissah-Arthur has asked Chinese private sector investors to take advantage of the conducive investment climate in the country to invest in the relevant sectors of the economy.
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Expressing concern over the non-existence of major Chinese investors in the private sector in Ghana, he stated, “What we see are only contracts we enter into with Chinese investors at the expense of the Government of Ghana.”
Mr Amissah-Arthur made the call when a five-member delegation from the Forum on China-Africa Cooperation (FOCAC) conferred with him at the Flagstaff House in Accra yesterday.
The Chinese Ambassador to Ghana, Ms Sun Baohong, led the delegation and was accompanied by the Special Envoy on the FOCAC, Mr Zhou Yuxiao.
The visit was to officially inform him of the 6th ministerial conference of the FOCAC slated for South Africa later in the year. The call was also for the two sides to explore other areas of economic cooperation in furtherance of deeper ties.
The Vice-President further expressed concern over the non-existence of Chinese banks in the country and said it was about time such banks were established to provide credit facilities to Ghanaian traders doing business in China.
Strong ties
Mr Amissah-Arthur, however, expressed appreciation to the Chinese Government for its development assistance to Ghana over the years and called for closer ties between the two countries.
Touching on Chinese projects relating to infrastructure, the Vice-President highlighted the need for a fibre optic backbone in the sub-region to foster economic relations among sister countries.
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“We should also be considering building a super fibre optic to increase travel links to our neighbours,” he remarked.
Leader
Responding, Mr Yuxiao was full of praise for the long-standing ties between the two countries dating as far back as 55 years and enumerated a number of Chinese investments in the infrastructure, energy, aviation and the agricultural sectors of the country.
He said China’s overseas investment was about $500 billion out of which about $1 billion was in Africa and described Ghana as an attractive destination for Chinese investment.
Turning the spotlight on the ministerial forum to be held in South Africa, Mr Yuxiao said the event, among other issues, would roll out measures to further promote cooperation between Africa and China, adding “An action plan on the expanded cooperation will be highly featured at the meeting.
“I am here to solicit your support and also to explore other areas of cooperation between us to strengthen our cooperation”.
Baker Hughes
Also at the Flagstaff House to pay a courtesy call on the Vice-President was a delegation from Baker Hughes, an American oil service company, led by its President, Mr Arthur Soucy.
The delegation was with Mr Amissah-Arthur to discuss their activities in Ghana.
Baker Hughes creates value for oil and gas producers in more than 80 countries by helping them find, develop, produce and manage petroleum reservoirs.
Mr Soucy told the Vice-President that 78 per cent of the total workforce of the company were from Ghana and that the issue of local content was considered very seriously by the organisation.
Describing Ghana as a business model in terms of the successes it had chalked up in oil production, Mr Soucy said the company had embarked on some services at the Tweneboa, Enyenra and Ntomme (TEN) project on the Jubilee Field.
The Vice-President, for his part, stressed the need for oil service companies operating in Ghana to be proactive in providing quality services to emerging companies.
He said since the passage of the Local Content Law was supposed to encourage companies to maximise services, it was imperative for companies to take advantage of that regulation to put their best foot forward within the local community.
Writer’s email: sebastian.syme4@gmail.com
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