Minister for Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey is making a strong case for Saudi Arabian businesses to focus on Ghana as their preferred investment destination in Africa.
Madam Ayorkor Botchwey made the call during separate meetings with business mogul and a member of the Saudi Royal Family, Prince Alwaleed bin Talal bin Abdulaziz Al Saud as well as the Chairman of the Concil of Saudi Chamber of Commerce , Dr. Sami bin Abdullah Al-Obaidi, in Riyadh ove3r the weekend.
She was in the Saudi Arabian capital for a three day bilateral talks with Saudi authorities which is geared towards strengthening relations between Ghana and the Saudi Kingdom.
Ghana’s Foreign Affairs Minister used the occasion to urge Prince Alwaleed bin Abdulaziz Al Saud increase his investment portfolio in Ghana. He has for quite some time now undertaken a number of projects in the country which include the construction of the Alwaleed School, donation towards the building of a mosque. Support for the fund of an Early Child Center and the Otumfuo Education Fund among others.
According to the Minister, Ghana, as a peaceful and stable country offers a gateway to the entire West African market and beyond for the investment interests of Saudi Arabian industries indicating Ghana’s readiness to form mutually beneficial strategic alliances in that regard.
One of the reasons Madam Botchwey wants the Saudi investors to invest in Ghana is the attractive incentives the country offers. This she said is within the context of the Ghanaian Government’s agenda to industrialize the economy.
She also called for investments in Ghana’s oil and gas fields since the outlook for the Saudi economy is very positive and Ghana, is also an oil producing country, indicating that the two countries could work towards closer trade and investment in that regard.
In a meeting with the President of the Saudi Council of for Chamber of Commerce, Dr. Al-Obaidi lauded the Minister for her visit indicating that it is very important to the Saudi business community adding that the engagement will be the corner stone for transforming the relationship between the private sectors of both countries.
He expressed optimism that the visit would lead to attracting investors from Ghana to Saudi Arabia and vice versa to increase the trade volume between both nations. Dr. Al-Obaidi also indicate the resolve of Saudi Arabia to assist small and medium enterprises in Ghana including the decision to set up an export finance with an amount of 30 billion Riyadh seed fund to among other things finance Ghanaian exporters exporting to Saudi Arabia adding that the bank will also support the mining industry in Ghana.
According to Madam Botchwey, Saudi Arabia is Ghana’s oldest bilateral partner in the Gulf Region and that Ghana’s relations with Riyadh have paved the way for the expansion of its bilateral relations to the rest of the countries in the region therefore Saudi Arabia continuous to remain a priority partner for Ghana in the region.
Touching on trade in the Middle East, She acknowledged the strong and resilient economy of Saudi Arabia as well as being one of the worlds’ leading producers of oil.
According to her, one area Ghanaian and Saudi Arabian authorities agreed to invest a lot of efforts is trade and investment.
Currently, Saudi Arabia’s investment in Ghana spread across the Energy, Agricultural, Educational, Transport and Health sectors.
Story By: Henry George Martinson/radiogoldlive.com
