Chinese investors set to flood Ghana
As the volume of trade between Ghana and China hits 6.6 billion US dollars in 2015, the Chinese Ambassador to Ghana Madam Sun Baohong has told Citi Business News that a number of Chinese investors are set relocate to Ghana to invest in the production of fast consumer goods.
The assertion follows an earlier announcement by the Minister of Trade and Industry, Dr. Ekow Spio-Garbrah that a number of Chinese manufacturing firms have officially written to government to relocate into the country due to the availability of resources.
Speaking at the sidelines of the China-Ghana Economic and Trade Cooperation Forum, Madam Baohong stated that Ghana’s position in the sub-region is convenient for mass production of goods and services for redistribution to other ECOWAS Member states.
According to her, a group of Chinese investors have already conducted some feasibility studies and concluded that it will be economically productive to move into the country and produce at commercial rates.
“Chinese enterprises are very interested in investing in Ghana because it has a lot of advantages. I think the biggest dividend is the peaceful nature of the country and stability. There are also abundant resources and the labour force is educated,” she said.
She stated that Chinese investors have indicated the will to venture into growing areas such as energy, cement production and agro-processing. She disclosed that the China-Ghana pragmatic cooperation has enhanced collaboration on many fronts that have made movement of goods and services from the two countries effective.
“We need to further promote high level exchanges and keep the overall China-Ghana relationship on the right track from strategic and long-term perspective, and solve the obstacles in our ties through friendly cooperation,” she advised.
Citing China’s strong economy as an example that could impact Ghana, Madam Baohong maintained that even at the backdrop of the 2015 economic struggles, China was able to grow at 6.9 percent, accounting for 25 percent of global economic growth.
She pointed out that China-Ghana cooperative can also exchange trainings in legislature, government agencies, and judicial departments.