The Ghana-China Business Summit has officially kicked off at the Labadi Beach Hotel in Accra, marking a significant milestone in the country’s efforts to strengthen economic ties with China.
Chief of Staff Hon. Julius Debrah delivered a powerful message on behalf of President John Mahama, emphasizing the government’s unwavering commitment to supporting Chinese companies looking to invest in Ghana.
A Strategic Partnership.
With over 560 Chinese businesses expressing interest in Ghana and more than 100 manufacturing ventures already operational, the stage is set for a new era of collaboration between the two nations.
Ghana’s strategic location in West Africa, stable political environment, and improved port and air connectivity make it an ideal hub for business on the continent. The government is eager to encourage Chinese manufacturers to set up assembly plants and production facilities in Ghana, serving the wider West African market .
24-Hour Economy Policy.
A key theme of the five-day summit is the push toward a 24-hour economy, with extended operations and incentives to boost productivity. This policy aims to increase productivity and economic growth by allowing businesses to operate beyond traditional hours. The government has assured Chinese investors of its readiness to provide the necessary support to help them establish and thrive in Ghana.
Bridging the Trade Imbalance.
The summit also highlighted the need to bridge the trade imbalance between Ghana and China. While China’s exports to Ghana stood at over $3.7 billion in 2023, Ghana’s exports to China were only about $1.8 billion. The government is looking to deepen partnerships with Chinese manufacturers to address this imbalance and boost local production .
A Bright Future Ahead.
The Ghana-China Business Summit is a testament to the strong diplomatic ties between the two nations. With the government’s commitment to supporting Chinese investors and the potential for increased collaboration, the future looks bright for Ghana’s economic development. As the summit continues, participants will explore business opportunities, foster partnerships, and leverage Ghana’s strategic position to access the West African market.
The Ghana-China Business Summit has brought together state and non-state actors in the business field to explore new opportunities and strengthen economic ties between Ghana and China. With its strategic location, stable politics, and government support, Ghana is poised to become a hub for business in West Africa.
As the summit progresses, it is expected to yield fruitful discussions, partnerships, and investments that will drive economic growth and development in Ghana .
