Sinotruk International, China’s first heavy-duty truck manufacturer, has signed an agreement with the government to establish an assembly plant in Ghana.
The company is to serve both Ghanaian and West African markets.
This was after the Ministry of Trade and Industry signed a Memorandum of Understanding with Sinotruk International, on Wednesday at the Ghana-Shangdong Business Conference, for the establishment of the plant.
Trade Minister, Alan Kyeremanten signing on behalf of Ghana
Speaking to the President Akufo-Addo after the signing ceremony, Zhang Yuzong, the General Representative of Sinotruk International, could not hide his joy.
He spoke of the company's proud history of being manufacturers of a wide range of heavy-duty trucks, buses, special trucks, engines and their sets, parts and special chassis.
The assembly plant in Ghana, when established, Zhang Yuzong said, will initially, have the capacity to assemble some 1,500 trucks per year for sale in Ghana and West Africa.
Having produced some 300,000 trucks in 2017, and possessing an employee strength of 40,000 people, the Sinotruk representative was confident the establishment of the plant in Ghana will create jobs for Ghanaians, as well as rake in significant amounts of revenue for the country.
The establishment of the assembly plant, he added, will result in the training of Ghanaians to assemble the trucks and the transfer of technology.
On his part, President Akufo-Addo expressed his delight about Sinotruk International’s decision to establish the assembly plant in Ghana.
President Akufo-Addo with Ghana's Ambassador to China Edward Boateng
“We are very appreciative of your interest in our country and its development, and whatever we need to do to grow your business in Ghana, we are prepared to do it,” the President said.
He assured Sinotruk International that “Ghana is a peaceful and stable country, and we are strong believers in the rule of law”, adding that the agreements that have been reached between the Government of Ghana and Sinotruk will be respected.
With West Africa’s current population of some 350 million people set to reach some 500 million in 20 years, President Akufo-Addo described Ghana as “an ideal place to have your base for reaching the West African market.”