With the objective of exploring business opportunities in Ghana, MVIRDC World Trade Center (WTC) Mumbai and All India Association of Industries (AIAI) organised an Interactive Meeting on ‘Doing Business with Ghana’.
Highlighting the investment opportunities in Ghana, H.E. Mr. Kwaku Asomah-Cheremeh, High Commissioner of the Republic of Ghana in India said,“Ghana has been the most politically stable country in West Africa for the last 32 years and it assures investment protection for Indian investors. I invite Indian companies to invest in Ghana by considering it as their motherland, as the two countries cherish business ties since the times of Prime Minister Shri. Jawaharlal Nehru. Indian companies can invest in refining capacity in gold, bauxite, lithium, diamond, crude oil and manganese. We are willing to offer mining leases and export licenses for refining gold and other raw materials to Indian companies. Ghana has a fair and transparent judicial system, and it ranks first in Ease of Doing Business in West Africa and fifth in entire Africa. Already, Indians have set up businesses in timber, teak, cashew processing, steel manufacturing and IT sectors.”
Speaking on this ocassion, Mr. Ernest Nana Adjei, Minister Consular, Political and Economic, Ghana High Commission said, “Even amdist the pandemic, Ghana economy is expected to grow 5.1% during 2021-23, as per IMF projection. Ghana government has come out with a new automotive policy and a One District One Factory policy for promoting industrialisation. Ghana ranks first in Africa in gold mining and 7th globally. It is the first West African country to produce Lithium, with an annual production estimate of 2 million tones. The country will produce 500,000 barrels of crude oil by 2024 per day.”
Mr. Adjei further mentioned that the Indian companies can get a 10-year tax holdiay by investing in free zones and exporting atleast 70% of the production. Also, Ghana government offers a 5-year tax holiday for young entrepreneurs/MSMEs/SMEs willing to collaborate with their counterparts in Ghana in manufacturing, ICT, agri-manufacturing and technology collaboration.
Earlier in his welcome remarks, Dr. Vijay Kalantri, Chairman, MVIRDC WTC Mumbai said, “It is time for India to launch an “Act Africa” policy on the lines of Look East Policy and Look South Policy. India and Japan can also collaborate a trilateral group with Africa to bring together the natural resource & labour of Africa, capital from Japan and expertise from India. India can be a promising business partner for Ghana as other foreign countries’ investments are not enough to support Ghana’s growth potential.”
Mr. Premal Lokhandwala, Honorary Consul of the Republic of Ghana in Mumbai also addressed the programme.
The event was attended by members of trade and industry, financial institutions and academia.
Mr. Ajoykant Ruia, Vice Chairman, MVIRDC WTC Mumbai proposed the vote of thanks for the event. He suggested collaboration between WTC Mumbai and Ghana in incubation of start-up enterprises.
In Photo: Felicitation Pic: Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai felicitating H.E. Mr. Kwaku Asomah-Cheremeh, High Commissioner of the Republic of Ghana in India
In title Photo (From L-R): Mr. Ernest Nana Adjei, Minister Consular, Political and Economic, Ghana High Commission, Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai and H.E. Mr. Kwaku Asomah-Cheremeh, High Commissioner of the Republic of Ghana in India.