VICE President Kwesi Amissah-Arthur has called on the Chinese private sector to take advantage of the favourable environment to invest in the country.
He said over the years, the relationship between Ghana and China had been one-sided where the government always had to sign for contracts for projects.
Vice President Amissah-Arthur made the comment when he received a Chinese delegation, led by Mr Zhou Yuxiao, China’s Special Envoy on the forum for China- Africa Cooperation, at the Flagstaff House in Accra.
The five-member delegation was at the Flagstaff House to inform the government about the China- Africa Cooperation Summit slated for the last quarter of the year in South Africa.
Vice President Amissah-Arthur called on the Chinese financial institutions to set up businesses in the country to assist Ghanaian traders who travelled to China for business.
He commended the Chinese government for assisting Ghana with many credit facilities to undertake projects such as the Atuabo Gas Processing Plant, road infrastructure, and railways, among others.
He called for closer relations between Ghana and China in terms of trade and investments.
Vice President Amissah-Arthur noted that Ghana and China had had 55years of relation since the days of Chairman Mao and Dr Kwame Nkrumah and said I had to be strengthened.
Mr Zhou announced that China had earmarked about $500billion for overseas developments, and urged Ghana to position itself to take advantage of the opportunity.
He said China had an excess production capacity and funds to invest in new areas and Ghana was likely be among that.
He said the China-Africa Cooperation had been around for over 15 years and options were being sought on how to make it grow and advance by making it bigger and better.
He said the 55 years of bilateral relations between Ghana and China had been very strong and despite the change of government, the relationship was still strong.
He said trade between the two countries had increased significantly, as well as foreign direct investments.
Mr Zhou further said China now wanted to move from its traditional trade relations with its partners to a new cooperation of industrialization.
He said the country had a lot of expertise and was ready to transfer some of these know-how to its partners.