President Akufo-Addo on Thursday officially opened the brand-new state-of-the-art Nissan vehicle assembly plant in the Tema Industrial enclave, near Accra.

The nine-million-Dollar 5000 Square meter plant, a partnership between Japan Motors Ghana, and Nissan Africa, will assemble Nissan’s hardy Navara pick-up truck for the Ghanaian and West African market.

At a short ceremony, President Akufo-Addo said the intervention was an important milestone in Ghana’s quest to make the country a manufacturing hub and a leading player in the automobile industry in Africa.

The establishment of the plant, he stated, attested to the attractiveness of Ghana as a prime investment destination despite the current economic challenges largely occasioned by the COVID-19 pandemic.

The President said the collaboration between a leading Ghanaian company and a global Japanese vehicle brand, made an even more compelling case for Ghana as the new commercial and investment capital for Africa.

The development of the automobile industry is one of the strategic anchor industries being promoted by government under its investment promotion agenda to diversify the Ghanaian economy.

Currently, the importation of both motor and transport vehicles constitutes the leading import into Ghana, estimated at a total annual value of 1.5 billion dollars.

President Akufo-Addo noted that the COIVID-19 pandemic and the disruption in the global supply chain, underlined the critical need for Ghana to become more self-reliant and produce what the country uses domestically.

However, that development, he said, had opened opportunities for Ghana to enhance its industrial productive capacities to feed the domestic and export market.

Ghana has over the past three years attracted investment from several global iconic brands including Volkswagen and Toyota which have commenced operations.

Other original equipment manufacturing groups including Hyundai, Kia and Isuzu have also reached advanced stages of commencing commercial production in the country.

Those new investments, President Akufo-Addo pointed out, had been realized on the back of Ghana’s new automotive development programme which offered very generous fiscal incentives, creating the attractive environment for the industry to thrive.

He assured Japan Motors and Nisan of the safety and profitability of their investment, adding that the government was determined to support the automotive industry.

“We will continue to design innovative policies to ensure the sustainability of the industry,” he said.

Nissan’s Africa Managing Director, Mike Whitfield, said the plant was proof of the fantastic public private partnership between the Government of Ghana, Japan Motors, and Nissan Africa

“The existence of this plant is tribute to the passion and commitment of Japan Motors investing USD 9 million, which would not have been possible without the security and certainty offered by the Government of Ghana’s progressive automotive industry development policy which was signed into law in record time.

“Ghana today stands as a benchmark for the African automotive industry, an example of what can be done when there is a will and a vision,” he said.