Siemens to establish business in Ghana, Akufo-Addo hints

President Nana Addo Dankwa Akufo-Addo has stated that German conglomerate, Siemens AG, which is the largest industrial manufacturing company in Europe, will soon announce its decision to establish a presence in Ghana. The president stressed that Siemen’s decision, together with the decision by German car manufacturing giant Volkswagen to establish an assembling plant in Ghana, attests to the efforts government has put into creating the necessary environment for the private sector to flourish. “We are not resting on our oars. We will continue to work hard to attract investments; domestic and foreign, into Ghana, so that we can unleash the sense of enterprise, creativity and innovation of the Ghanaian people, and help build a progressive, prosperous Ghana, whose citizens live in harmony and security,” he said. President Akufo-Addo made this known on Tuesday, when he delivered an address at the ongoing G-20 Compact with Africa Conference, being held in Berlin, in the Federal Republic of Germany. Additionally, at the Conference, HL Hamburger Leistungsfutter GmbH, a leading manufacturer and supplier of specialist feeds and compound feeds in Germany, signed an 8 million Euro agreement to invest in Ghanaian company Agricare Ltd. The investment from HL Hamburger into Agricare comprises of full technology transfer in animal feed formulation and sales, and also help enable Agricare utilise more locally produced raw materials in the formulation of feeds. Whilst commending the German Chancellor, Frau Angela Merkel, for convening the conference, the President noted that Ghana is delighted with Germany’s decision to re-orient its policy and relationship not only with the west African nation but, indeed, with Africa, from one based on aid to relations focused primarily on trade and investment co-operation. “My Government’s vision of moving our country to a situation beyond aid is aligned to Germany’s Compact with Africa programme. Under my leadership, we are determined to discard the mindset of dependence on aid, charity and handouts, and aim towards becoming self-reliant, within the context of strong global co-operation,” he said. President Akufo-Addo continued: “We are well aware that in order for Ghana to harness the full benefits of the Compact Programme, whose objective is to ensure more private sector investments, we have to get our act together. We have to create an enabling environment for investments in Ghana not just to survive, but to thrive.” He noted that his government believes that an improved macro-economy is a basic requirement for stimulating the investments Ghana needs for the significant expansion and growth of the national economy. This he said is the reason that his administration has spent the last 21 months to improve the fundamentals of the Ghanaian economy. Additionally, the President indicated that his Government has initiated and implemented policies that are encouraging and empowering the private sector to grow the Ghanaian economy, within the framework of macroeconomic stability. “We believe that when the private sector flourishes, and when our enterprises become competitive, not just on the continent, but also in the global marketplace, then can we create the thousands and thousands of jobs our teeming masses of unemployed youth crave,” he added. The President was confident that, if respected, the premise on which the Compact with Africa Conference is being held will enable Germany and the Compact with Africa countries to re-shape and chart a new path of growth and development in freedom. In concluding, President Akufo-Addo used the occasion, on account of the news of the impending departure from the German political scene, to congratulate Angela Merkel on the exceptional quality of her leadership of Germany and Europe in the last decade and more. “The Ghanaian people and I will regret her departure very much, for she has been one of the most outstanding leaders of modern times. We shall miss her very much,” the President said.

READ ALSO:  Budget: Borrow more to deal with effect of COVID on economy – Joe Jackson to Govt
Source:| Ghana                                                                                                                                         ]]>