Vice President Mahamudu Bawumia has challenged the investor community to take advantage of Ghana’s competitive advantages, especially within the West Africa Sub-region, to make significant investments that would bring them appreciable returns.
He said the Akufo-Addo-led Government was looking for “significant investments to do “big things” and was thus putting the necessary legislative and policy framework in place to ensure that the private sector thrived in a business-friendly environment.
“The six-month old Akufo-Addo Government is committed to transforming Ghana’s economy, ensuring macro-economic stability and managing our resources efficiently,” he stated.
“We need significant investments to do big things and any investor will find in us a partner committed to ensuring a win-win situation,” he said.
Dr. Bawumia made these known when he called on the President of the China Exim Bank, Mr Liu Liange, in Beijing, China.
Dr. Bawumia proposed a strategic partnership between the China and Ghana Exim banks to facilitate the acquisition of machinery for the ‘One district One factory’ initiative, as well as other infrastructure projects outlined by the Government.
Vice President Bawumia is on a five-day official visit to the People’s Republic of China, leading a delegation of Ministers of State and businessmen to the Asian country, in a quest to deepen diplomatic and economic ties.
It was also to create opportunities for Ghanaian businesses to form partnerships with their Chinese counterparts.
The visit is at the invitation of the Chinese Government and it is the first high-level official state visit to China since the New Patriotic Party Government took office in January this year.
For his part, Mr Liu Liange said, the Chinese Exim Bank had confidence in the Ghanaian economy and that was reflected in the fact that Ghana was the African country that had received the largest amount of money from the Bank for projects, including those covering telecom and agriculture.
“The bank also stands ready to help Ghana in the areas of Railways infrastructure, the Aviation industry, Manufacturing and other priority areas,” he assured.
The Vice President would also hold bilateral talks with the Chinese Vice President, Li Yuanchao, at the Great Hall of the People, as part of the visit.
Dr. Bawumia would meet Chinese leaders including Mr Yu Zhengsheng, Member of the Standing Committee of the Political Bureau of the CPC Central Committee and Chairman of the National Committee of the Chinese Political Consultative Conference.
He would also attend the China-Africa Industrial Capacity Cooperation-Ghana Promotion Conference.
Some Ministers of State accompanying the Vice President are the Senior Minister, Mr Yaw Osafo Maafo; Trade Minister Alan Kwadwo Kyerematen; Mr Joseph Ghartey, Minister for Railways and Kwaku Ofori Asiamah, Minister of Transport.
The rest are Mr. Joseph Kofi Adda, Minister of Sanitation and Water Resources; Charles Adu Boahen, Deputy Minister for Finance; Mohammed Amin Adam, Deputy Minister of Energy; Mohammed Habib Tijani, Deputy Minister of Foreign Affairs; Mrs Gifty Ohene Konadu, Coordinator of the ‘One District One Factory’ initiative and Reginald Yoofi Grant, the Chief Executive of the Ghana Investment Promotion Centre.
Dr Bawumia would meet with the Ghanaian Community in China and brief them on happenings in Ghana’s economic front.
A number of Ministers are also expected to sign cooperation and project agreements with Chinese companies.
Dr Bawumia is expected to return to Accra on Sunday, June 25.