By
Godwill Arthur-Mensah, GNA
Accra, Aug. 30, GNA – The Ministry of Trade
and Industry has signed a Memorandum of Understanding (MoU) with a German
automobile company, Volswagen, to build an automotive assembly plant in Ghana.
The MoU, which was signed between Volswagen
and the Ministry at the Business Dialogue in Accra on Thursday, was facilitated
by the Delegation of German Industry and Commerce.
The signing ceremony was witnessed by the
visiting German Chancellor, Dr Angela Merkel and Vice President Dr Mahamudu
Bawumia.
Mr.
Schäfer initialled on behalf of the Volswagen, while Mr Alan John Kwadwo
Kyerematen, the sector Minister, signed on behalf of the Ministry.
Additionally, Voith Hydro Holding GmbH &
Co. KG and Tabcon Limited, signed an MoU to supply technologies
for the construction
of a hybrid
solar / hydro
power plant in
Ghana.
Ms.
Bergmann initialled on behalf of Voith Hydro Holding GmbH & Co. KG,
whilst Dr. Tabirih signed for Tabcon
Limited.
Another MoU was signed between Robert Bosch
Packaging Technology GmbH, which was represented by Mr. Touban and ASPIRx was represented by Mr. Clocanas, to
supply technologies for
the construction of
a vaccine factory
in the country.
In an address, Vice President Dr Mahamudu
Bawumia said the inclusion of Ghana in the G20 initiative “Compact with Africa”
under the German Presidency in 2017 was a real demonstration of Ghana’s desire
to realise a “Ghana beyond Aid”.
He noted that the “Ghana beyond Aid” was aimed
at ensuring private sector participation to engender investment and trade.
To attain that vision, he said the government
had embarked on various public sector reforms to create a conducive environment
for the private sector to thrive.
Upon assumption of office about 18 months ago,
he said the government had instituted key fundamental pillars to anchor the
“Ghana beyond Aid”, noting that, it had stabilized the macro economy by
reducing the inflation to a single digit, fiscal deficit from 9.3 to 5.9 per
cent and interest rate, whilst the economic growth had increased from 3.6 per
cent in 2016 to 8. 5 at the end of 2017, and all the fiscal indicators were
moving to the right direction.
Vice President Bawumia gave the assurance
that, government would ensure fiscal disciple to sustain the gains made thus
far.
Touching on some policies to formalize the
economy, he said government had implemented the national property digital
addressing system, ongoing national identification system, mobile money
interoperability payment system, smart driver licensing and registration regime
and paperless ports system, while efforts were underway to digitize the lands
Registry so that all lands records could be accessed digitally, to ensure
transparency and efficiency.
Implementation of those programmes, he said,
would create the basis for a credible credit reference system and enabled
financial institutions to offer loans to businesses and individuals with low
interest rate, which would bolster the economy.
Vice President Bawumia noted that government
was creating the avenue for industries to add value to the raw materials
through agro processing and believed that the country was at the cusp of
modernising the economy to engender growth.
He expressed optimism that the MOUs signed
would be actualized in not distance future to enhance the economic fortunes of
the nation and to create jobs for the teeming unemployed youth.
GNA