[ad_1]
President Akufo-Addo has asked investors and business leaders in Spain to participate in the exceptional investment opportunities in Ghana.
Ghana, with its stable political and security environment, along with a strong legal and regulatory environment, and a stable domestic market and macroeconomic stability, he noted, has the best investment climate in West Africa for local and foreign investors.
“As most of you know, Ghana is a haven of peace, security and stability, indeed the safest country in West Africa, where legitimate investments are protected. We have witnessed, through the ballot box, three peaceful transfers of power from one political party to another in the 28-year period of the Fourth Republic ”.
President Akufo-Addo made the call on Monday when he addressed the business community in Spain, as part of the “Focus Africa 2023” conference in Madrid, Spain.
The Conference defines Spanish foreign action in Africa until 2023 and is part of the Spanish foreign action strategy from 2021 to 2024. The strategy includes; the specific actions that the Spanish government intends to take with key stakeholders in Africa, which include; Ghana.
It is aligned with the realization of the 2030 Agenda for Sustainable Development and the 2063 Agenda of the African Union.
The president told the meeting that between 2017 and 2020, his first term in office was devoted to correcting the fundamentals of the economy, which were pointing in the wrong direction.
“During the period, we have implemented the necessary measures to reduce the cost of doing business, improve the business environment and make the Ghanaian economy not only one of the most business-friendly economies in Africa, but also one of the fastest. . growing economies in the world between 2017 and 2020 ”, he added.
President Akufo-Addo pointed to the fact that although the economies of most countries were registering negative growth as a result of the COVID-19 pandemic, Ghana’s economy was one of the few that still managed to register positive growth. of GDP.
“Despite the ravages of the pandemic, we are working to grow the economy at a much faster rate this year, our goal is a GDP growth rate of five percent (5 percent), which will improve the prospects for a win-win environment for both the private sector and the country; an environment in which companies not only survive, but actually thrive, ”he said.
The President told business leaders that the biggest intervention driving the reactivation and revitalization of the Ghanaian economy is the GH ¢ 100 billion Ghana CARES ‘Obaatampa’ Program, the main elements of which included; support commercial agriculture and attract educated youth to commercial agriculture; and the construction of the country’s light manufacturing sector; develop engineering / machine tool and ICT / digital economy industries; Among others.
“It is still an exciting time to be in Ghana and do business in the country. Global car manufacturing giants Volkswagen of Germany, Sinotruk of China, Nissan of Japan have already established assembly plants in the country. The energy giant, ExxonMobil of the United States of America, is establishing an office and base in Ghana, and the renowned Norwegian energy company Aker is very established in Ghana, and I think that is for good reason, ”he added.
Therefore, he urged the business community in Spain to take advantage of the business-friendly climate in the country to invest in Ghana, adding: “I am sure you have heard of some of my government’s flagship policies of“ A district, a factory ”. , “A village, a dam”, and the “Planting for food and employment” program, which I recommend, as in the areas of water, health, housing, road and rail infrastructure, transportation, industry, manufacturing, farming. , oil and gas, the exploitation of our mineral wealth of bauxite, iron ore and gold, renewable energy and ICT growth ”.
The president told the meeting that a key challenge to Ghana’s economy is its infrastructure deficit, noting that the government was embarking on an aggressive public-private partnership program to attract investment in the development of road and rail infrastructure.
“We are hopeful that, with strong private sector involvement, we can develop a modern rail network with strong links between production centers and with the potential to connect with our neighbors.
“Ghana is rightly considered a model of democracy in Africa. Along the same lines, we are determined to make it an example of rapid economic growth in the context of a well-developed market economy. We appreciate your contribution to this effort, ”said the President.
