Accra, October 3, 2017//-The Ministry of Trade and Industry has affirmed the government’s commitment to transform Ghana’s economy by making it the most business-friendly nation in Africa to accelerate socio-economic development and prosperity for the citizenry.
Speaking on behalf of the Minister of Trade and Industry Alan Kyeremanteng at the maiden three-day Caribbean Trade Mission summit to Ghana, being held at the Movenpick Ambassadorial hotel in Accra, the Deputy Minister at the Trade Ministry Robert Ahomka-Lindsay said the 10-point industrial agenda of Ghana are designed to bring industrialisation to the doorsteps of the people making Ghana, Africa’s Industry Hub.
“As part of transforming the economy and also ensuring that Ghana becomes an Industrial Hub in Africa, my Ministry have rolled out a Ten (10) Point agenda in line with our Government Industrial Transformation to stimulate the economy and is anchored on the following areas: building competitive businesses of existing local industries by facilitating access to medium and long-term financing at low interest rate and implementing the One District, One Factory.”
He explained that, ‘‘It is against this background that in the 2017 Asempa Budget we introduced a number of far reaching reforms designed to reduce the cost of doing business for the private sector and shift government economic policy away from a fixation of taxation to emphasis on production’’.
Amongst other measures, he said, was the announcement of tax-cuts amounting to over one billion cedis in this year’s budget, which was read to Parliament by the Finance Minister in March.
The summit, organised by the HFC Bank (Ghana) Limited in partnership with its Parent company, Republic Financial Holdings limited, is to facilitate long-term trade and investment opportunities with the unique focus on establishing business alliances between Ghanaian businesses and their Caribbean counterparts that will lead to mutually beneficial economic transformations.
“Ghana has for the past years proved to the international community of been one of the most stable and peaceful country within the Africa continent after successive elections which among other things determines the investor confidence and guarantee safety of investment within the country. Once again, let me emphasize that, Ghana is an ideal place for investment,” Mr Ahomka Lindsay to the investors.
The Trade Mission brought about 30 companies and institutions including business people, investors, policy makers and industry leaders from Trinidad & Tobago, Guyana, Barbados and Surinam with interest ranging from oil and gas, manufacturing, Education, distribution, to mention a few.
The 3-day trade summit will have among other things; Panel Discussions, Experts presentations, One-on-One business discussions and Exhibitions. Delegates will also have the opportunity to tour some historic sites in Ghana.
The Chief Executive Officer of the host bank in Ghana HFC, Anthony Jordan in his welcome address said Ghana is on the right path of Economic recoveries and Transformation assuring the investors that, they had not made the wrong choice looking to invest here.
“The vision of the Government of Ghana to promote a private sector led economy has raised the interest of investors to Ghana. More to it, the proposed one-district-one-factory program and the promotion of favourable business environment make a good business case to promote investment in Ghana
Investors from the Caribbean, I can assure you that you have made the right decision to come to Africa. The Ghanaian market is a developing one and full of opportunities. Ghana is blessed with educated labour. Ghana and Trinidad have similar systems due to the lineages to the British systems. HFC Bank Ghana is here to give you all the necessary support you will require to establish ties here in Ghana and Africa,” he added.
Mr. Jordan further noted that, unlike many summits in the past, this summit has an already planned match-making segment where related businesses from the Caribbean and Ghana have been paired to have private discussions on doing business which will allow delegates to learn from extraordinary nationally and internationally acknowledged companies through the matchmaking sessions.
The President of Ghana is later expected to host the delegates at the flagstaff house to discuss investments promotion in Ghana. B&FT
