THE Vice-President, Mr Kwesi Bekoe Amissah-Arthur on Tuesday, met captains
of Indian Industry and assured them that Ghana welcomes investors, whose
operations would add value to the country’s primary commodities.
He said, the production of value added commodities and products for exports,
would appreciate Ghana’s exports earnings, as well as enable investors to
expand their capacities to offer more employment opportunities for the
Addressing Chief Executives Officers (CEO’s) of Indian manufacturing and
commercial concerns at the headquarters of the Confederation of Indian
Industry (CII) at New Delhi, Mr. Amissah-Arthur said, Ghana had taken a bold
and decisive decision to diversify its economy by adding value to products
for the local and external markets.
Accompanied by the Minister of State responsible for Private Sector
Development, Mr, Rashid Pelpuo and Ghana High Commissioner to India, Mr.
Sam Pee Yalley, the Vice- President said, it was becoming increasingly
dangerous for the country to rely solely on the export of materials in
their raw form into the foreseeable future.
He said considering the manipulation of prices of raw materials on the
world market, resulting in dwindled receipts for the country and throwing
overboard projected government budgets, it had become imperative to
diversify the country’s economy to meet the rising expectations of the
Mr. Amissah-Arthur, drew the attention of the gathering to the political
stability which Ghana had enjoyed over the past 22 years, a veritable
factor, which he said, which made it a preferred destination for Indian
investment in the West African sub-region.
” Ghana has since 1992 has elected its various governments’ through the
ballot box and the masses of the people had come to realize that exercising
their franchise every four years to elect their leaders was the best form
of governance,” he said.
Commenting on other factors of production considered by investors before
committing their capital to the various sectors of the economy, the
Vice-President said the country was diversifying its energy mix to provide
uninterrupted electricity for industry and commerce.
He added that although the country was faced with financial challenges,
nevertheless it was doing its best to mobilize resources to undertake the
rehabilitation and expansion of existing road, rail and air network in the
The Vice-President also welcomed investment in the infrastructural sector,
which he said, required $1.5 billion annually for the next decade to fix
the sector to facilitate the progress and development of the country.
He told the gathering that the country abound in fertile
lands, massive water bodies and untapped and abundant mineral resources
stressing that Indian businessmen could invest in the agricultural, mining
and fishing sectors and expected maximum returns on their investment.
The Vice-President also commented on the oil and gas industry, adding that
the sector offered ample opportunities for investors who could also invest
in its ancillary concerns such as fertilizer manufacturing.
The Deputy Chairman of the CII, Mr. Sanjay Kirloskar said, Indian businessmen
acknowledged the economic potentials in Ghana and said, members would
continue to liaise with the appropriate authorities in the country to
explore investment opportunities.