The minister invited more Hunan multinational companies to explore business opportunities
Ghana and China’s Hunan Province have committed to strengthening economic cooperation in agriculture and agribusiness, smart industrialisation, and sustainable mineral processing, following high-level talks at the 4th China-Africa Economic and Trade Expo (CAETE).
Cao Zhiqiang, Vice Governor of Hunan, hosted Ghana’s Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, for bilateral discussions focused on building stronger trade, investment, and technical exchanges between Ghana and Hunan Province.
In her remarks, the minister commended the Vice Governor and the Hunan Province for their high level of industrialisation driven by innovation and underscored the need for partnership.
She indicated that the achievements of the province were a clear indication that, by walking shoulder to shoulder, Ghana could leverage this strategic relationship to leapfrog its industrialisation agenda.
Additionally, the minister highlighted Ghana’s stable business environment, adherence to the rule of law, competitive returns on investment, and a youthful and growing middle class as key factors that should attract potential investors from Hunan Province.
She also emphasised Ghana’s strategic location as a gateway to the West African region and global markets.
The minister invited more multinational companies from Hunan to explore business opportunities in manufacturing, garments and textiles, pharmaceuticals, and components manufacturing, and to take advantage of Ghana’s 24-hour economy policy.
Bilateral trade between Ghana and Hunan Province was estimated at USD 2.5 billion as of the end of 2024, with at least eight top multinational companies from Hunan operating in Ghana. These include Zonda, Sany, Hunan Construction, and Zoomlion.
The minister extended an invitation to the Vice Governor to lead a high-level delegation to Ghana to explore further business opportunities later in the year.
Cao Zhiqiang commended the minister for making a strong case for investment in Africa, particularly in Ghana, during the CEO Dialogue.
According to the Vice Governor, the province is committed to partnering with the government of Ghana and the private sector to enhance industrialisation for mutual benefit.
Touching on the province’s current economic development, the Vice Governor emphasised that Hunan is one of the fastest-growing provinces in China, with a 2024 GDP of approximately 5.4 trillion yuan (about USD 760 billion), growing around 5.5% year-on-year—slightly above the national average.
The tertiary sector (services) contributed significantly to this growth, while advanced manufacturing and the digital economy also expanded rapidly.
The Vice Governor noted that the province has positioned itself as a hub for industrial innovation and research, aerodynamics, logistics and infrastructure development, and education, among others.
He agreed to the minister’s proposal for technical exchanges between Ghana and Hunan to enhance skills and expertise development in critical sectors of the economy.
GA
Ever heard of Nkofie, the legendary Kwahu cave believed to grant wishes? Join GhanaWeb’s People & Places as we take you on an exclusive tour of this mystical site: