The Expo 2020 investment forum is currently taking place in Dubai, and it has brought together global and business leaders to share knowledge and experiences on how to attract foreign direct investments to their respective countries, while others seek to improve bilateral trade.
The Expo’s goal is to forge new partnerships and inspire ground-breaking solutions in key industries around the world. It also aims to raise awareness of the global issues that humanity is facing. It also offers numerous opportunities for networking and the promotion of international connections, with countries displaying their distinct cultures and technological innovations. Ghana’s turn to address the forum and showcase its investment opportunities was March 8, 2022, and thankfully, President Nana Addo Akufo-Addo, who is leading the Ghanaian delegation, spoke about Ghana’s positioning itself as an investment destination in Africa.
President Akufo-Addo stated in his speech to mark “Ghana Day” at the ongoing Dubai Expo 2020, “Our engagement at the Expo is themed on an opportunity because we are a nation of undeniably attractive opportunities.”
Ghana, according to President Akufo-Addo, had moved away from the earlier uncertainties that had clouded her path to progress and prosperity, and the last 29 years of democratic governance in the 4th Republic had generally been the period of the greatest economic growth in our history.
Evidence abounds that Ghana is now the safest country in West Africa, the largest recipient of foreign direct investments (FDIs) in West Africa, and ranked third in the West African Ease of Doing Business Index.
Furthermore, Ghana is the new commercial capital of Africa due to its hosting of the Secretariat of the African Continental Free Trade Area (AfCFTA), the world’s second largest cocoa producer, and Africa’s largest gold producer. The country also has significant deposits of bauxite, iron ore, manganese, lithium, oil and gas, diamonds, and timber, and it is geographically closer to the center of the planet than any other country.
All of these accomplishments and benefits position our country as ripe for attracting foreign direct investments, and the fact that our President has marketed the country to foreign investors should serve as a signal to them that they are welcome. As a developing country, we require massive resources to boost the economy.
The government is attempting to diversify and industrialize the economy, specifically through agro-processing, mining, and manufacturing. As a result, various steps are being taken to portray the country as having an FDI-friendly environment.
The government is attempting to diversify and industrialize the economy, specifically through agro-processing, mining, and manufacturing. As a result, various steps are being taken to portray the country as having an FDI-friendly environment.
Furthermore, it has made attracting foreign direct investment (FDI) a priority in order to support its industrialization plans and close a USD 1.5 billion annual infrastructure funding gap.
It is worth noting that, unlike in some countries, there is no discrimination against foreign-owned businesses. Furthermore, investment laws protect investors from expropriation and nationalization, and they ensure that investors can transfer profits out of the country.
Agribusiness, food processing, textiles and apparel, downstream oil, gas, minerals processing, and mining-related services are among the most promising sectors in the country.
We live in a country where investments are safe and secure, thanks to a governance system that includes an independent judiciary that upholds the rule of law and respect for private property rights.
It is critical that the government maintains its determination to build a business-friendly economy that will allow Ghana to reach the point where the exploitation of available opportunities will help build an optimistic, self-confident, and prosperous nation.
This is why we have been so impressed with President Akufo-leadership Addo’s in marketing the country as ready for FDIs at every event or forum, whether local or international.
We understand that attracting FDIs is a work in progress, which means that the government must continue to take steps to improve the regulatory system and ease of doing business, maintain fiscal discipline, combat corruption, and promote greater transparency and accountability.
