The Minister of Energy, Dr Matthew Prempeh, has called on American investors to take advantage of the country’s immense energy, mineral resources and invest here.
He said, this would go a long way to strengthen the long relationship between the two countries, and develop their economies for their mutual benefit.
The minister made the appeal when the Mayor of US city of Houston, Mr Sylvester Turner, paid a courtesy call on him in Accra on Monday as part of the Mayor’s 16-member trade delegation visit to West Africa where he met with officials in Nigeria and Cote d’Ivoire.
The Minister stated that despite the dominance of American petroleum companies in Ghana over the past years, the country still needed investors in the sector both upstream and downstream.
“We need tremendous investment in gas to monetise it and be able to use it for our mass transit system for use in the country,” he noted.
Also, Dr Matthew Opoku Prempeh entreated American banks to support American technology companies in Africa thereby bringing the technology transfer to fruition.
He noted that training the country’s labour force would spur economic gains regarding the intensive training programme for engineers and technical people during the construction of Volta Aluminium Company (VALCO).
Mr Sylvester Turner on his part, noted that there was a lot to be done in terms of mutual relationship, adding that the trade relationship between both countries cost $293 million.
At the Ministry of Trade and Industry which was his next call, the sector minister, K.T. Hammond, told Mr Turner that Ghana was exploring opportunities to increase its trade volumes of US$293 million recorded last year with the city of Houston.
“By forging a stronger partnership with Houston, Ghana can tap into their well-established infrastructure, logistics capabilities, and access to a vast network of businesses, providing Ghanaian exporters with enhanced avenues for reaching global markets,” he added.
He called for the establishment of a direct flight between Ghana, Nigeria and Houston, stressing that Houston was emerging as an important technology hub in the USA and other industries.
Our collaboration will enable Ghana to benefit from Houston’s advancements in various industries, including agriculture, healthcare, technology and renewable energy, by fostering knowledge-sharing programmes and facilitating technology transfer, we can accelerate Ghana’s progress and spur economic diversification,” Mr Hammond stated.
The upcoming World Cup in 2026 in Houston, he said, also presented more opportunities for trade and investment partnerships with Ghana, saying that stronger ties was thus necessary for Ghanaian entrepreneurs and businesses to attract foreign direct investment, establish joint ventures, and participate in mutually beneficial trade ventures.
The minister said the Ghanaian Diaspora in Houston represented valuable resource through leveraging expertise, networks, and resources to further drive economic growth.
BY CLAUDE NYARKO ADAMS & VIVIAN ARTHUR
