Ghana’s economy ripe for more investment – Veep

Ghana’s vice president Kwesi Amissah-Arthur has said the Ghanaian economy is close to attaining micro economic stability, making it ripe for volumes of investment and trade.

Amissah-Arthur made the statement when a high powered delegation of Italian investors paid a courtesy call on him at the Flagstaff House, Accra on Wednesday to discuss investment opportunities in the energy and power sectors in Ghana.

According to him, this is the right time to invest in Ghana because the infrastructure project would add more value to the economy and help increase stability, citing the Pwalugu Tomato factory and the Western rail lines as preferred areas to make huge investments.

He said the business partnership will help boost trade and investment between Ghana and Italy.

The Italian delegation’s visit follows an invitation by president John Mahama when he met Italian Prime Minister Matteo Renzi.

The delegation led by the Italian Vice Minister for Economic Development Carlo Calenda said his government intends to use Ghana as a launchpad to invest in the entire sub region.

He said Italian exports to Ghana increased by 30 percent in the first eight months of 2015, compared to the same period last year. “In 2014, Italian exports to Ghana amounted to 160 million Euros. In the first eight months of 2015, these grew by 30 percent over the previous year,” Calenda said.

“Ghana’s mining sector offers the best opportunities for Italian companies as the number of gold mines is expanding and oil and gas production are strengthened, leading to further growth,” he added.