Africa-Press – Ghana. President John Dramani Mahama has extended an open invitation to Chinese investors and business people to enter the Ghanaian market, assuring them of a conducive investment climate.
He extended the invitation to them at the Presidential Business Forum in Beijing, China.
This forms part of President Mahama official state visit to China at the invitation of Chinese President Xi Jinping.
President Mahama said as the host of the African Continental Free Trade Area (AfCTA), Ghana provides investors with direct access to a $3.4 trillion single market and over 400 million consumers through the ECOWAS trade liberalization scheme.
He noted that above all, a democratic stability that had been uninterrupted for more than 30 years was the strongest guarantee of investor confidence.
The President said Ghana was opened for business and innovation.
“We are open to partnerships, especially with our Chinese counterparts,” he emphasised.
He noted that at the heart of the new transformation lay a 24-hour economy and accelerated exports development programme, which was anchored in the Volta Economic Corridor, one of the most ambitious projects in Ghana’s history.
President Mahama said it also rest on four interlinked pillars, involving the irrigation of over two million hectares of land for all-year round farming; the building of agro-industrial parks for textiles, pharmaceuticals, and food processing; developing tourism and hospitality hubs along the Volta Lake, one of the world’s largest man-made inland lakes; and the establishment of a modern inland water transport and logistics system, linking farms, factories, and markets.
The President said supporting these were catalytic projects, such as the Legon Pharmaceutical Innovation Park, the Kumasi Machinery and Technology Park, the Akosombo Juapong Garments and Textiles Park, and the Eden Volta Agricultural Project.
He said each of those offer investment opportunities in manufacturing, renewable energy, cold chain logistics, and value-added agro-processing.
To unlock large-scale growth, the President said they had launched the Big Push Infrastructure Programme, which was a $10 billion initiative focused on completing major roads, bridges, power systems, and data networks, and also linking Ghana to regional markets.
“We invite Chinese investors to explore partnerships in roads and smart cities, renewable energy, and digital connectivity,” President Mahama said.
He said the agriculture for Economic Transformation Agenda, which was a GH₵1.5 billion programme, and aimed at ensuring food security, boosting productivity, and expanding agricultural exports was also available.
He said the country was also investing $3 billion in its Digital Jobs Initiative to prepare the youth for the technology-driven economy of the future.
“We believe that China, with its comparative advantage in digitalization and innovation, will be a partner to the vibrant youthful population of Africa and Ghana in this regard,” President Mahama said.
“And we see vast potential in critical minerals and electric vehicle value chains,” he added.
He said with abundant resources of lithium, bauxite, manganese, and graphite, Ghana was poised to partner with Chinese investors in responsible mining and local processing to drive the global clean energy transition.
He said under Ghana’s Constitution and the Ghana Investment Promotion Centre Act, expropriation of investments was banned.
He said investors enjoy unrestricted repatriation of their dividends and proceeds in convertible currency of their choice.
The President said Ghana’s laws protect investment against discrimination, expropriation, and nationalization, which was consistent with international best practice.
He said Ghana was a proud member of the International Center for Settlements of Investment Disputes and is a signatory to the New York Convention.
This, he said meant that their rights were protected under transparent international arbitration mechanisms.
“We are also implementing pro-enterprise reforms to make Ghana one of the most business-friendly destinations in Africa.”
President Mahama said the new Investment Promotion Authority Bill when passed by Parliament, would abolish minimum capital requirements for foreign and joint venture investors and would provide a clear path for long-term investors to qualify for Ghanaian citizenship.
He said a symbol of trust and belonging, public-private partnership frameworks were being modernized to ensure faster, fairer, and more transparent approvals of applications.
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