Ghana attracting Gulf investors

The government of Ghana through its Ministry of Trade and Industry has assured prospective investors from the Gulf region, especially the UAE that the Ghanaian economy provides attractive returns on investment. Speaking to The Gulf Today on Monday, the Acting director of, Export Trade support services in the Ministry, Gerald Nyarko-Mensah said that the Ghanaian government is committed to develop a cordial bilateral and trade relationship with Gulf partners by attracting more business entrepreneurs and investors from the UAE and the GCC countries to establish various investment projects in different economic sectors. The director made this remark at the Ghana Business Forum in Dubai. The delegation comprised of high-level government officials and businessmen. Delegates from the private sector included the representative from Ghana Industries, Ghana National Chamber of Commerce and Industries as well as various business executives. During the one-day Trade and Investment Forum a series of presentations were given by government officials as well as Trade and Industry representatives highlighting the vast investment and business opportunities available in the West African Nation. Gerald stressed on the key role played by the UAE, adding that Dubai itself is a regional and international hub for business, exhibitions and conferences in the Middle East. He noted that the UAE continues with its efforts to develop all other economic sectors such as tourism and financial and logistics services through the giant projects being constructed throughout its emirates. According to the director, Ghana assures the business entrepreneurs of attractive returns on their investment. Jalal Balala the Executive Director of Al Azizah General Trading and chairman of the Kenya Friendship Society and a facilitator to the Forum welcomed the Ghanaian delegation and highlighted the strong bilateral economic and trade relations that is existing between the UAE and Ghana. Balala took participants through the investment opportunities that is available in Ghana in areas such as real estate, oil, gas and infrastructural development. The aim is to set up mutual economic projects in both countries, that will also involve private sector corporations in Dubai and other emirates to explore the investment opportunities available in Ghana, said Gerald. According to statistics, Ghana has seen unprecedented growth in real GDP (gross domestic product) from four per cent in 2009 to 7.7 per cent in 2010 and 13.6 per cent in 2011, making the country one of the fastest growing economies in the world in 2011. “Ghana offers immense investment opportunities to Gulf businessmen whom we are trying to attract in accordance with the general strategy of the Ghanaian government. These opportunities can be found in sectors such as real estate, construction, setting-up giant shopping malls, extracting gold and diamonds, establishing hospitals, processing of Aluminum and producing cocoa,” said the director. He stressed that unlike other West African Nations, Ghana’s economy is very stable and that investors could enjoy no restrictions on transferring profits. He also emphasized on the important role played by the private sector establishments in supporting the national economy. He said that in the past, there have been series of talks on bilateral relations between the UAE and Ghana in general and discussion on ways of expanding and developing them. He noted that Dubai can play a key role to further take the marketing of Ghanaian products and services to wider ranges in the West African region using Ghana as a transit point. Gerald added that Dubai has served as a regional trade center and a connector to many promising outlets in the West African and Sub-sahara region. The director also spoke highly on the booming real estate industry, trade development and economic growth that Ghana is currently witnessing that made it the attraction point for the businessmen and investors from different parts of the world to put their investments. The director also made references to the crisis in the global economy and the difficulties facing major economies such as the Eurozone, US etc in their efforts to avoid recession. The pragmatic policies and programmes being pursued by our Government, the Ghanaian economy is resilient and remains on its growth trajectory with very positive macro-economic indicators, said Gerald.