Hon. Alhaji Inusah Fuseini (MP), Sector Minister for Lands and Natural Resources, has reiterated that Ghana possess the best potential to establish power-generation plants to feed the West African sub region.
The former Deputy Minister for Energy emphasised that investment in relatively cheap gas-fired power plants through gas that would be made available by the Ghana Gas Company would significantly improve the competitiveness of products of Ghanaian companies and assist the generation of the targeted 5,000KV by 2016 for export to countries in the sub-region.
“The West Africa Power Pool (WAPP) arrangement and existing contractual obligations to Togo, Benin for the supply of power coupled with huge power deficits in many other countries in the sub-region provides immense opportunity for prospective investors to set-up in the power-generation sector” said Hon. Inusah Fuseini.
Hon. Inusah Fuseini added that when Mr Kimihiko Inaba, Executive Director of Japan External Trade organisation (JETRO) led a 2-man South Africa-based team comprising Mr. Yasuto Suzuki, Deputy General Manager, Toshiba and Mr Nozomu Sasaki, General Manager, Mitsubishi Corporation to pay a courtesy call on him.
The 3-member JETRO delegation is currently in Ghana to explore investment opportunities particularly in the natural resource and power generation sectors in a bid to boost investment of Japanese companies in Ghana.
Touching on Ghana’s excellent investment environment, Hon. Inusah Fuseni assured the team that Ghana offers the most stable, secure and investor-friendly climate in the West-Africa-sub-region “where the government has demonstrated time without number that it will not expropriate or nationalize the company of any investor”.
Hon. Inusah Fuseini intimated that Ghana was looking forward to consolidating its position as a leading world producer of gold by developing the value-addition sector of the mining industry and stressed that government has also prioritised the diversification of the industry through the development of lesser minerals especially base metals.
The Minister announced that the government has put together an attractive incentive package for a strategic investor to take advantage of Ghana’s immense bauxite reserves to establish a holistic and integrated aluminium industry capable of processing both finished products like alloy rims for the automobile industry and aluminium ingots for further processing.
Hon. Inusah Fuseini, observed that Ghana-Japan relations received a major boost with the Japanese government’s decision to restore the yen loan to Ghana during President Mahama’s recent trip to Japan and emphasised that he would do all in his power to assist Japanese companies to set-up in Ghana.
Elaborating on JETRO operations on the continent, Mr Kimihiko Inaba explained that the organisation which currently has offices in 4 African countries was interested in establishing in Ghana to scale-up Japanese investment in Ghana especially in the natural resources sector and the nation’s fledging oil and gas industry in the spirit of the new Ghana-Japan relations.
The Executive Director was confident that Ghana’s excellent business and investment climate as well as the sound management of its economy has made the country a natural choice for investors and re-affirmed the commitment of the Japan’s government to its relations with Ghana.
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