Accra, April 16, GNA – Mr Yaw Amoateng Afriyie, Deputy Chief Executive Officer (CEO), Ghana Investments and Promotion Centre (GIPC), says Ghana’s One District-One Factory industrialisation initiative is ready for Brazilian investment.
He explained that the Government’s flagship programme, aimed at transforming the economy from being material led, to manufacturing, through the establishment of factories in all districts of the country offered numerous opportunities to Brazilian investors.
“Brazil offers Ghana expertise in construction, healthcare, processing, and agriculture, and we believe that the One District-One Factory policy is ripe for Brazilian capital and technical know-how.”
He added that: “In as much as we are looking for Ghanaians to partner, we also want Brazilian companies to be able to establish in Ghana and do proper business under correct joint venture structures that we will regulate.”
Mr Afriyie said this in an interview with the Ghana News Agency on the sidelines of the ongoing weeklong Brazilian Suppliers Trade Mission to Ghana business-to-business meeting in Accra.
He indicated that Brazil continued to be a significant source of Foreign Direct Investment (FDI) in Ghana especially in the construction industry, noting that in the midst of the COVID-19 pandemic, FDI from Brazil to Ghana stood at $267 million.
He said: “The $267 million FDI in 2020 is a number that we can do better and that is why GIPC is supporting this supplier mission to Ghana,” adding that the size of the economy of Brazil presented opportunities for huge trade and investment ventures to the country.
The Deputy GIPC CEO added that: “Making a business decision to come and invest in Ghana where we have the African Continental Free Trade Area (AfCFTA) Secretariat, which presents a commercial springboard into a 1.3 billion population with about 3.5 trillion prospect is incredibly important.”
He, then urged Brazilian companies to invest in Ghana, and ensure that they formed strong partnerships and joint ventures with their Ghanaian counterparts for mutual benefit and development of their respective countries.
Mrs Maria Elisa Teófilo de Luna, Ambassador of Brazil to Ghana, encouraged businesses across the world including Brazil, to channel their funds and other resources in Ghana.
She said, “Ghana needs investment; it’s a very serious country with serious people that keeps attention to whatever they do. So, I hope that you Brazilians sell more things in Ghana and identify new ways of investing in Ghana.”
She also urged particularly, Brazilian and Ghanaian investors to find common investment and joint ventures and avenues that would make them participate in development of each country.
Mrs Teófilo de Luna, noted that even in the COVID-19, trade between Brazil and Ghana was not affected, and assured other investors of good returns should they invest in the country.
She stated that though Ghana was ranked as the 11th export destination of Brazil in 2020, it was ranked eighth in 2021, something, the Ambassador said was indicative of the confidence that Brazil had in the country for trade purposes.
The Brazilian Suppliers Trade Mission to Ghana business-to-business meeting was to provide participants, the opportunity to network and engage one-on-one with each other for mutual benefits.
The Mission targeted importers, distributors, wholesalers, local businesses, and Government agencies in areas including food and beverages, cosmetics and personal care, construction, furniture, safety and health, logistics, machines and equipment for micro and agro-industries.