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Ghana’s economic, political stability is attracting investors – Minister

Ghana economic and political stability has made her the destination of choice for investors and Minister of Roads and Highways Mr Kwese Amoako-Attah has said.

According to him “Ghana’s impressive democratic traditions, strength of transitions and clarity of governance has made her the gateway to Africa.”

Mr Amoako-Attah said this when he addressed the ministerial round table on high quality infrastructure for Africa at the Japan-African Public-Private Economic Forum held in Johannesburg, South Africa last week.

The forum organised by the Japanese Government and the Japan External Trade Organisation (JETRO) attracted participants from 42 African countries, including ministers of state, 100 Japanese and 400 African companies in the public and private sector.

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It sought to showcase the potentials of the businesses towards breaking new grounds for economic development.

According to the Minister, the peace the country is currently enjoying has positively positioned it for the expansion of all sectors of the economy.

He said the government is ambitiously developing the road rail, aviation, housing and port sectors in an integrated manner.

Mr Amoako-Attah stated that the road sector is open for investment as government is targeting a total of 5000 kilometres of roads to improve upon the current 74,000 kilometres.

He said procedural steps has also begun for the construction of 4000 kilometres of railway line linking Accra in the south to the north to link up the neighbouring land lacked Sahalien countries.

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The South African President, Cyril Ramaphose who expressed confidence in the Japanese investment in Africa said the time has come for increased partnership for effective economic development.

The Japanese Minister for Economy, Trade and Industry said his government’s renewed efforts towards economic integration across Africa will increase the continent’s market value and improve prospects for investment by Japanese companies.

He commended the recent signing of the African Continental Free Trade Agreement (AFCFTA) and said further regional integration would make the continent more inviting for Japanese investors.

The Senior-Vice-President of the African Development Bank, Dr Charles Boamoah, urged the need for substantial involvement of the private sector in building infrastructure, adding that an estimated US$130billion to US$170 billion is needed for the continent’s infrastructure development.

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By Lawrence Vomfa-Akpalu               

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