Investors and the business community in Malta have been urged to take advantage of the numerous investments opportunities in the Ghana to diversify their investment portfolios.
The Minister of Trade and Industry, Kwadwo Allan Kyerematen who made the call at the second Ghana-Malta Business Forum in Accra on Monday said Ghana had so many investment openings in the areas oil and gas, mining, agriculture, infrastructure, health and pharmaceutical industries, which investors and businesses from Malta could tap to expand their business operations.
He said the country’s political and social stability had positioned Ghana as the best investment destination in Africa.
The Ghana-Malta Business Forum was jointly organised by the Ghana Investment Promotion Centre, Ghana National Chamber of Commerce and Industry, Ghana Export Promotion Authority, Association of Ghana Industries, Ebo Ghana, and the Ministry of Economy, Investment and Small Businesses, High Commission of the Republic of Malta to Ghana, Trade Malta, Malta Enterprise and the Malta Chamber of Commerce, Enterprise and Industry.
About 28 companies from Malta took part in the day’s forum, which provided space for business to business network session for participating companies and businesses.
The Maltese business delegation was led by the Maltese Minister for the Economy, Investment and Small Businesses, Silvio Schembri and some senior Maltese government officials.
As part of the programme, a Memorandum of Understanding was signed between the Accra Technical University and the Malta College for Arts, Science and Technology, Ghana Standards Authority and Malta Medicines Authority, Aqua Biotic and GSA, Aqua Biotic and Azofa Akosombo Fisheries and Impact Hub and Malta Enterprise as part of efforts to deepen bilateral co-operation between the two countries.
Mr Kyerematen in his address said Ghana had signed an interim Economic Partnership Agreement with the European Union and also offered to host the Secretariat of the African Continental Free Trade Area, saying these two important initiatives presented Ghana as the best hub of investment in Africa (ACFTA).
Particularly on the ACFTA, the minister said the pact presented a market of about one billion people with a combined Gross Domestic Product of $6.5 trillion.
Mr Kyerematen said both Ghana and Malta shared common heritage and the Ghanaian government would work to deepen the bilateral and trade relations between the two countries.
Mr Schembri in his address said the Maltese government and investors interest in Ghana was based on the new Maltese Africa Strategy, which sought to strengthen the trade and bilateral partnership between Malta and Africa.
He said the Maltese Africa Strategy, which runs from 2020 to 2025 was based on pillars such as trade, diplomacy and development and the vision of government was to use Ghana as the hub to enter other African markets.
He said Ghana was the first country in Sub-Saharan Africa that the Maltese government had established a diplomatic mission office.
Mr Schembri pledged that his government would continue to deepen the bilateral trade and diplomatic relations between Ghana and Malta.
The Chief Executive Officer (CEO) of GIPC, Yoofi Grant said both Ghana and Malta served as gateway to important trading blocks and markets.
He said Malta could be used as the hub for Ghanaian investors and business community to enter the European Market and Ghana also could be gateway for Maltese businesses to enter the African market.
Mr Grant said Ghana would continue to deepen its relationship with Malta, stressing that his outfit was working for this year’s Malta Africa summit to be held in Ghana.
The CEO of Trade Malta, Anton Buttigieg said the Ghana-Malta Business Forum had helped to attract Maltese investments into Ghana.
According to him, about 50 Maltese companies were currently operating in the country through the business forum which started three years ago.
By Kingsley Asare