‘Partner with Ghanaian companies’ – Nana Addo urges Chinese investors

• Posted on September 5, 2018September 5, 2018
• by Ellsamwise King
• Comment

President Nana Akufo-Addo has urged the Chinese business community to take advantage of the enhanced business-friendly climate in the country to invest in Ghana.

Speaking at the Ghana-China Investment Forum, on Wednesday, 5th September 2018, in Shangdong Province, President Akufo-Addo said: “Our flagship agricultural programme, “Planting for Food and Jobs,” our renewable energy sector and ICT growth are all areas of considerable opportunity. These are all sectors you can profitably partner with Ghanaian companies, some of whose representatives have come all the way from Ghana to be here with me.

“Walk hand-in-hand with China and her business community, because we desire to walk far”, President Akufo-Addo told the gathering that China has, since 2015, been Ghana’s largest trading partner, with total trade amounting to some $6.7 billion in 2017,” he added.

However, with the majority of exports from Ghana going to Shangdong, the President told the Chinese business community that “we want to stop being mere producers and exporters of raw materials, and, thereby, deal with China, and, indeed, Shangdong province, on the basis of things we make.”

It is for this reason that he commended the Chinese business community his government’s flagship policy of “1-District-1-Factory”.

“Thus far, companies that have established factories in Ghana, under this policy, are importing machinery and equipment duty-free, are not paying import duty on raw materials imported for production, and are enjoying a corporate income tax holiday for five years,” the President said.

He indicated that, additionally, the Ministry of Trade and Industry had attached two technical experts to provide free advisory services to these companies.

Touching on the infrastructural deficit, President Akufo-Addo said his government is embarking on an aggressive public-private partnership programme to attract investment in the development of both the country’s road and railway infrastructure.

“We are hopeful that, with solid private sector participation, we can develop a modern railway network with strong production centre linkages and with the potential to connect us to our neighbors to the north, i.e., Burkina Faso, to the west, i.e., Cote d’Ivoire, and to the east, i.e., Togo,” he said.