Trade and Industry Minister, Alan Kyerematen, has urged foreign investors to choose Ghana ahead of any other African country in terms of investments.
According to him, Ghana has five key attributes, including a stable democracy and economy, infrastructure as well as skilled and trainable labour that investors can rely upon to grow their business and make profit.
Speaking to some investors at Dubai in the United Arab Emirates, Mr. Kyerematen said Ghana is the best place to do investments on the continent.
“We all know that economic opportunity is a necessary condition to attract investments. You need to go beyond economic opportunity and I think Ghana offers that. Beyond the opportunities that Ghana offers, we also have a stable democracy which is important for investors. We also have a peaceful and secure environment which is also very important for investment”.
“Investors want to make money, but they want to stay alive and enjoy the fruits of their labour. But it also goes beyond that. We also have very skilled trainable labor force and we know that these are very important ingredients for attracting investors”, Mr. Kyerematen said.
The former Ghana Ambassador to the USA also said Ghana has a wide network of infrastructures that support investments including roads, railways, energy and telecommunications, adding, “above all we also have a full complements of other enablers that would help an investment deal be competitive. I’m sure other African countries will talk about some of these same benefits”.
“I can guarantee you that there’s only one country Africa that offers all these as a package and that is why we are different from other countries. I would like to re-echo only one other point; the biggest project in Africa is the establishment of the African Continental Free Trade Area. And as you have been told Ghana has the privilege of being the host of the AFCFTA, what this means to you as an investor is that if you locate a manufacturing plant in Ghana you can reach the entire continent from that location, duty free, quota free”, he added.
Furthermore, Mr. Kyerematen said Ghana has signed a free trade agreement with the European Union which allows the country to export duty free, quota free to the European Union.
“Again it means that if you invest in the facility in Ghana, you can reach the European market duty free, quota free. Apart from this, Ghana also is part of the African Growth and Opportunity Act (AGOA) between the United States and the continent of Africa, which means that, if you invest in a manufacturing facility you can export duty free, quota free to the United States of America which is the world’s largest consumer market”, he explained further.
Mr. Kyerematen concluded that because of these trade agreements, Ghana is the best investment destination of choice on the African continent.
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