Ghana, Malta move to explore investment opportunities
More than 20 Maltese companies are in Ghana to explore available investment opportunities in the various sectors of the economy and form partnerships with their Ghanaian counterparts.
The week-long trade mission is part of the 3rd Malta-Ghana Business Forum, which was held in Accra on Tuesday to boost trade and investment between the two countries.
It was organized by TradeMalta, a Maltese company, and the Maltese Ministry for Foreign and European Affairs and Trade in collaboration with the Ghana Investment Promotion Center and other partners.
The forum created a platform for business companies from both countries to engage face-to-face with officials in their respective sectors and sign memoranda of agreement.
Addressing the participants, Deputy Minister of Trade and Industry, Michael Okyere Baafi, said that Malta was one of Ghana’s strategic bilateral partners as the country is quickly becoming a home for several Maltese businesses in Africa. of the West.
However, he said that trade and investment between Ghana and Malta were still below their potential with a cumulative trade volume of more than $318 million and a trade balance of $94.6 million in favor of Malta, recorded by the 2010 to 2019.
Therefore, he urged prospective investors to consider strategic cooperation for opportunities available under the government’s flagship programs, including One-District-One Factory.
Mr. Baafi also highlighted Industries such as pharmaceuticals, the automotive industry, the manufacture of machines and machinery components, textiles and clothing, industrial chemicals, and industrial starch as potential areas for investment.
He said choosing Ghana as their main investment destination in Africa was the best decision because of the country’s strong democratic credentials, which made it a safe haven for investors.
“The government of Ghana will continue to work closely with the Republic of Malta through high level political and commercial forums to promote trade and investment between our countries”, he said.
For her part, the Chairperson of Trade Malta, Elizabeth Sant, said that Ghana was central in Malta’s roadmap for Africa due to the country’s socio-economic growth and political stability.
She said that there were a large number of opportunities for collaboration and growth between Malta and Ghana that could be exploited to form a strong partnership to drive socio-economic growth for both countries.
“Together, we can spur Ghana’s economic transformation and open new doors for Maltese businesses to invest in Ghana’s strong ecosystem. The Maltese government, indeed, is acting as a catalyst for change by taking concrete steps to achieve this mutual elevation,” she said.
In this regard, Mrs. Sant said that Malta is working with the government of Ghana to stimulate investment, speed up business opportunities, facilitate cross-border trade and align efforts with that of -government and of the African Continental Free Trade Area.