Vice-President John Mahama has asked prospective investors in the country to focus their attention more on the manufacturing sector to help expand the economy and to create jobs for the teaming youth.
Conferring with a 24-member delegation from the Federation of Indian Chamber of Commerce and Industry (FICCI) at the seat of government, he said "We are impressed about the ingenuity of the Indian manufacturing sector and are willing to partner with you to the mutual benefit of our peoples."
Vice-President Mahama, who recounted the good relations between Ghana and India in several fields of endeavour over the years, stressed that the spark that would create a real partnership between the two countries was investment by the Indian private sector in the productive and manufacturing sectors of the Ghanaian economy.
Vice-President Mahama informed the delegation that a recent report by the World Bank indicated that Ghana suffers infrastructural deficit to the tune of 1.6 billion dollars annually. There was therefore the need to bring the country up to scratch to merit its tag of a middle income country.
"There are so many investment opportunities in Ghana," Mr. Mahama said and mentioned the oil and gas industry, power generation, agriculture, roads and railways and health infrastructure.
The Vice-President emphasised that this was the time for interested investors to put a strong foothold in Ghana, citing the World Bank's prediction that the country was projected to grow at 13.5 per cent this year, the highest growth rate in the world.
This coupled with a stable and peaceful atmosphere, high rate of investment returns, he said, made Ghana the first point of call in terms of foreign direct investment opportunities in the sub-region. Ghana, he assured, would continue to be a model of democracy on the continent.
The FICCI delegation, who was in the country for a two-day visit to explore areas of investment, was led to the Presidency by Ruchi Ghanashyam, the Indian High Commissioner in Accra.
Madam Ghanashyam, who spoke on behalf of the delegation, said the FICCI, a non-profit organisation, was the voice of India's business and industry with a membership of about 400.
The chamber works closely with the government on policy issues, enhancing efficiency, competitiveness and expanding business opportunities for industry through a range of specialised services and global linkages, Ghanashyam said.
She described their two-day stay in Ghana as "very fruitful", saying, the group held meetings with several stakeholders. The envoy expressed the hope that the delegation's visit would yield good results.
Story: Irene Ata-Donto
22/2/11
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