Speech Delivered By VEEP, Dr. Bawumia, At The Ghana - TradeMalta Business Forum
| Updated Jul 30, 2017 at 5:00am
GHANA – TRADEMALTA BUSINESS FORUM
(THURSDAY, 27TH JULY, 2017, ACCRA, GHANA)
HIS EXCELLENCY DR. ALHAJI MAHAMUDU BAWUMIA VICE PRESIDENT OF THE REPUBLIC OF GHANA
Movenpick Ambassador Hotel, Accra
(TIME ALLOWANCE: 10 MINUTES)
Your Excellency, the President Of the Republic Of Malta, Mrs. Marie-Louise Coleiro Preca,
The President and Members of the Ghana National Chamber Of Commerce,
The President, Malta Chamber Of Commerce, Enterprise and Industry
Representatives of Business Associations,
Distinguished Businessmen and Women
Ladies And Gentlemen, Good morning.
May I begin by expressing my thanks to the Ghana National Chamber of Commerce and the Malta Chamber of Commerce, Industry and Enterprise for the invitation to address this Business Forum.
Today, with the visit of Her Excellency, President Coleira Preca, we are witnesses to the beginnings of what we hope will be a strong, thriving, and mutually-beneficial collaboration between Ghanaian and Maltese businesses to take advantage of existing opportunities in each other’s country, and, at the state-to-state level, consolidate our bilateral cooperation and attract investments from both sides.
On our part, we are confident that Maltese investors will find Ghana a welcoming home and place to do business, and especially as a base to invest in the rest of Africa.
And here are a few reasons why, Your Excellency and Distinguished Guests:
First, we have embarked on an extensive investment in hard and soft infrastructure that places Ghana at the heart of trade and investment flows in the region. Under the leadership of His Excellency, President Nana Addo Dankwa Akufo-Addo, we are building Ghana as a logistics, transportation, financial, industrial, oil and gas, and trade hub in the West Africa region
Secondly, with the implementation of the National Digital Addressing System, the National Identification Scheme, and Interoperability of Banking and Mobile Communications platforms scheduled for completion later this year, we are on course to formalising the economy which will help broaden the tax base and further reduce the burden on current taxpayers – we have already removed more than ten taxes this fiscal year –, and accelerate financial inclusion which will expand the potential market for goods and services for investors like you, and
Thirdly, we are pursuing sound macroeconomic policies that will create a stable, predictable, and fluid business environment.
We are cutting the red-tape involved in doing business in Ghana as part of our strategy of building a business-friendly economy, including at the ports.
Your Excellency, Distinguished Guests, in addition:
Ghana is a stable democracy that has time and again demonstrated a peaceful transfer of political power. In a world increasingly troubled by political instability, and on a continent, Africa, which presents opportunities for growth in the future for investors, Ghana stands in pole position as the premier destination for investors
We also have a favourable legal environment for investments. It is important to note that being both members of the Commonwealth, we share similar, Common Law legal regimes as well as protections for foreign investors. Your investments will be safe in Ghana
Finally, Ghana has a growing, and largely virgin investment opportunities in agribusiness - from farming to agro-processing -, in the ICT and telecommunications industry – including business process outsourcing -, in tourism, in financial services sector, in pharmaceuticals, and in light manufacturing
We therefore welcome the interest shown by Maltese investors looking to do business in Ghana.
I assure you, Ghana is the place it is all happening at in Africa and there is no better place, and time, to invest in Africa than in Ghana and right now.
Your Excellency, Distinguished Guests,
I will now like to address our own Ghanaian business executives. Malta, just like Ghana, has a pro-business environment, a sound economy with access to European Union markets, is politically stable and has a highly skilled English-speaking workforce as well as an international financial centre.
Malta offers you an opportunity to expand the market for your goods and services and I hope that you will position yourselves to also, in turn, take advantage of the Maltese market.
Sectors which are worth exploring in Malta, and exploring partnerships in, I am told, include advanced manufacturing, life sciences, (including the biotechnological, pharmaceuticals and chemical industries), transport and advanced logistics, tourism , international education services, information and communication technology, financial services, and the creative industries.
Whatever we can do as a government to facilitate your access to Malta’s market within the broad framework of our economic partnership we will do.
Together, let us give effect and meaning to our shared commitment to improving relations between Ghana and Malta to encompass nearly all facets of development for the socio-economic development of our peoples.
Your Excellency, Distinguished Guests.
I have no doubt that our Governments, and the private sectors in Ghana and Malta, would provide the platform for an enhanced economic partnership that would expand to the wider West Africa regional market of over 300 million people and that of the European Union market for diversified products and services from Ghanaian businesses.
We look forward to a win-win engagement in investments and trade for both countries and I would like to assure you, Your Excellency, of Ghana's commitment to deepening and widening this relationship.
I thank you.