Ghana targets revived investments for economic recovery

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Deputy Minister of Trade and Industry, Herbert Krapa,

A Deputy Minister of Trade and Industry, Herbert Krapa, has disclosed that Ghana is set to take advantage of this year’s exposition in Dubai, United Arab Emirate, to revive investments in its economy, and help restore economic growth as the country emerges from the economic downturn occasioned by the COVID-19 pandemic.

Addressing journalists at a press conference in Accra yesterday, Mr Krapa said the Expo provides Ghana with a golden opportunity to showcase the country’s trade potentials, investment opportunities and tourist destinations on a global stage.

“Ghana’s participation in the Expo is intended to underscore government’s industrial transformation agenda, promote private sector businesses, and showcase our investment opportunities to attract investment into critical sectors of the economy, such as energy, trade, water and sanitation, environment, agriculture, education and tourism.

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“It will also offer us an opportunity to display our rich cultural heritage, promote value addition to our abundant raw materials and highlight our friendly business climate,” he said.

Dubai Expo 2020

The “Dubai Expo2020” is an exhibition event which is projected to bring together approximately 192 countries and draw between 25 to 30 million visitors to the Asian country, making it the largest international gathering of its kind in the UAE and the history of expositions.

The Expo, if not for the outbreak of the COVID-19 pandemic, was originally scheduled to be held from October 20, 2020 to April 10, 2021. However, with countries easing restrictions and with activities gradually returning to normalcy, the event was postponed and rescheduled to start from October 1, 2021 to March 31, 2022.

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Exhibition content

According to the Deputy Minister, as part of Ghana’s exhibition content is a 200 meter-square pavilion segmented into Business Cluster, Culture Cluster and Ghana Report Zone. This presents a brief overview of Ghana’s vision and plan for the future, its stable, mutual-value approach to investment, reputation as the “gateway to Africa” and commitment to a future driven by business and growth.

These clusters, he explained, present opportunities in trade and investment, banking and finance, infrastructure and telecommunications technology, mining, oil and gas, agriculture, manufacturing, textiles and garments, healthcare and pharmaceuticals, education, property, and real estate that investors can tap into.

Ghana’s participation, themed “Ghana: Limitless Opportunities”, seeks to showcase the numerous investment opportunities in the various sectors of the Ghanaian economy for sustainable development.

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The Chief Executive Officer of the Ghana Investment Promotion Center (GIPC), Yoofi Grant, said for Ghana to reap the benefits of the Expo, the government had earmarked key business-related activities to be undertaken as part of Ghana’s participation in the event. He said the planning committee had put together a Ghana Business and Investment Forum where various investors will meet to explore areas in the Ghanaian economy where they can direct their investments towards.

Additionally, he indicated that there will be monthly presentations by experts on investment opportunities in sanitation and environment, food and agriculture, energy, education, tourism, culture and arts, lands and natural resources. He said the presentations would centre on opportunities for food, agriculture and livelihood, travel and connectivity, and opportunities in knowledge and learning.

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