The Deputy Minister of Food and Agriculture, Yaw Frimpong Addo, has assured investors and businesses from Israel of the government’s commitment to creating a conducive environment for foreign investors.
In spite of the current economic challenges, he said the government will continue to prioritise the safety of investments while working around the clock to find lasting solutions to the challenges. In this vein, he said protecting existing investments and attracting new ones is top of the government’s economic recovery agenda.
“We understand the importance of foreign investments in our nation’s growth and prosperity. The government is steadfast in its duty to provide a secure and attractive environment for your investments.
“We have actively worked to enhance legal frameworks and regulations to ensure fairness, transparency and protection for all investors, ensuring incentives through legal frameworks – such as the Ghana Investment Promotion Centre (GIPC) Act (865) and the Ghana Free Zones Authority (GFZA) , Free Zone Act 1995 (Act 504),” he said.
Mr. Addo said this to the Israeli business community at the maiden Israel–Ghana Business Forum held in Accra. The deputy minister noted that with Israel’s core competence in technology, agriculture, pharmaceutical and cyber security, protecting their footprints in the country would enable them to play a vital role in driving economic growth, creating job opportunities, knowledge transfer and fostering innovation.
He added that the new Companies Act, 2019 (ACT 992) has also simplified administrative processes while continuous efforts are being made to streamline bureaucratic procedures and bolster investor confidence.
Mr. Frimpong Addo reiterated that the government is confident that increased bilateral trade between the two countries would boost mechanised agriculture and food processing, and address cyber-security in an increased digitalisation era to enable Ghana to chart its path to prosperity.
“I invite potential investors to explore the numerous investment opportunities available across various sectors in our country, from cutting-edge technology to infrastructure development. We assure foreign investors that their investments will be protected in line with internationally recognised standards,” he said.
Israel’s Minister of Foreign Affairs, Eli Cohen, who is on a working visit to Ghana for the first time as part of efforts to strengthen trade and friendly bilateral relations, reiterated his government’s commitment to pushing bilateral trade volumes and values high in a mutually beneficial manner.
The Ghana-Israel Business Forum, which is on the theme ‘Connecting Markets, Driving Prosperity’, aims to strengthen Israel’s economic, trade and business relations in Africa, with emphasis on Ghana.
The Israeli Foreign Minister’s delegation included eight companies in sectors such as agriculture, water, mining, clean energy and cyber-security, who made presentations at the forum.
The companies also engaged in business-to-business (B2B) meetings and discussions on possible areas of partnership and collaborations with their Ghanaian counterparts, paving the way for fruitful investments.
The companies include DataHarbor, Dekel Oil, LR Group, Negev Mining, Lesico Group, Netafim, A.D. CON Ltd., and Migdal Seeds Ltd.
Ambassador of Israel to Ghana Shlomit Sufa, in her remarks, said: “The main objective of the business forum is to enable the Israeli business community to engage and interact with the Ghanaian business community and foster stronger ties that create opportunities for collaboration”.
She, therefore, urged businesses from both Ghana and Israel to take advantage of the platform offered to network and form partnerships that will be mutually beneficial to both parties.