Ghana, Germany must scale up investment cooperation – President

President Akufo-Addo (right) addressing the meeting

President Akufo-Addo (right) addressing the meeting

President Nana Addo Dankwa Akufo-Addo has called for a scale-up in trade and investment co-operation between Ghana and Germany.

He said this would help the country put her products at the high end of the value chain in the global market place and create jobs for the teeming masses of Ghanaians, particularly the youth.

He explained that notwithstanding the excellent relations that existed between the two countries, Ghana had decided to turn her back on her old economy, which was dependent on the production and export of raw materials and aid.

President Akufo-Addo was speaking at the German-Ghanaian Economic Forum, organised by the German Chamber of Commerce, and the Konrad Adenauer Foundation on Tuesday.

Expressing his delight that German Development Co-operation was now being aligned with his government’s vision of moving Ghana Beyond Aid, he said his government was implementing measures to attract investment, domestic and foreign, into Ghana, as well as stimulate the growth of the Ghanaian private sector.

“We have introduced a monetary policy that is stabilising the currency and reducing significantly the cost of borrowing; and have initiated a raft of tax cuts that is bringing relief to and encouraging businesses,” he said.

 

President Akufo-Addo said the Ghanaian industrial sector was undergoing a spectacular revival, a decline in interest rates, a more stable cedi, and, overall, “our macro-economy is growing stronger.”

These measures, he stressed, had been put in place to build the most business-friendly economy in Africa, and create jobs and prosperity for all Ghanaians.

Additionally, he said his government had taken specific measures which would lead the country and its economy into the new digital age with the introduction of e-business registration system, paperless port clearance system, digital addressing system, mobile interoperability system, and national identification card system.

He invited the German Business community, to take advantage of the growing business-friendly climate in the country to invest in Ghana’s ICT and renewable energy sector as well as government’s flagship programmes.

Addressing the challenge of the country’s infrastructural deficit, President Akufo-Addo told the gathering that his government was 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 neighbours. We believe that this is an area where German and European technology and expertise would be very welcome,” he said.

“We are determined to lift our country out of the doldrums. We want to use all the blessings that the Almighty has bestowed on us to bring progress and prosperity to our people, in our time. The Black Star is poised to shine and shine again, for, truly, the project is Ghana Beyond Aid,” he added.

By Times Reporter

 

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