London: Bawumia co-chairs UK Ghana Business C’cil meeting

Vice President Dr. Mahamudu Bawumia played a significant role in fostering economic cooperation between Ghana and the United Kingdom.

Co-chairing the 8th session of the UK Ghana Business Council (UKGBC) meeting in London, he engaged in fruitful discussions regarding key areas of collaboration.

The participants delved into Ghana’s economic outlook, emphasizing the importance of the Ghana-UK Trade Partnership Agreement, market access, and the identification of viable commercial opportunities for both countries.

During the meeting, Dr. Bawumia expressed satisfaction with the progress made and shared his optimism for the future. He took to social media, specifically Facebook, to acknowledge the productive discussions that took place.

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This highlighted his commitment to transparency and engaging with the public through digital platforms.

To further solidify the bilateral relationship and continue the dialogue, it was announced that the 9th session of the UKGBC meeting would be held in Accra, Ghana’s capital, in December 2023.

This decision showcased the mutual commitment of both nations to strengthening their economic ties and exploring new avenues of collaboration.

Prior to the UKGBC meeting, Dr. Bawumia attended the 3rd Ghana Investments and Opportunities Summit, also held in London. In his address to the summit attendees, the Vice President sought to attract foreign investors by presenting Ghana as a favorable investment destination.

He conveyed the message that Ghana had successfully weathered the challenges posed by the global economic meltdown and was now firmly on the path to recovery.

Dr. Bawumia acknowledged the extraordinary times in which the world found itself, with rising inflation, financial stress, and various global factors impacting economies.

However, he stressed the resilience and determination of the Ghanaian government to navigate these difficulties and regain the trajectory of pre-pandemic economic growth.

The Vice President highlighted that the government was actively focused on restoring economic stability and creating an enabling environment for private sector investors.

He emphasized the importance of strategic public investments and sound fiscal management to unlock growth and foster private sector-driven economic development.

Acknowledging the pivotal role of the private sector as the engine of growth, Dr. Bawumia assured potential investors that the government’s role was to act as a facilitator and provide necessary support.

He pledged to address bottlenecks, allocate limited resources to strategic sectors and projects, and ensure a favorable business climate for profitable private investments.

The Investment and Opportunities Summit aimed to showcase Ghana’s recovery and highlight the lucrative investment opportunities available across various sectors.

Dr. Bawumia specifically highlighted the potential of Ghana’s ports, including the prominent and efficient Tema port in the east, which serves as a crucial gateway to landlocked ECOWAS countries.

He also mentioned the transformation of the Takoradi port on the western coast, emphasizing the need for investment to decongest the Tema port and support logistics, oil and gas, and allied industries.

Additionally, Dr. Bawumia highlighted tangible and bankable projects, such as Brownfield, Greenfield, and Public Private Partnerships, which presented attractive opportunities for both local and international private sector investors.

By emphasizing the government’s commitment to creating an investor-friendly environment and showcasing the potential for growth and profitability, he aimed to attract investors to contribute to Ghana’s economic resurgence.

Overall, Dr. Bawumia’s participation in the UKGBC meeting and the Ghana Investments and Opportunities Summit demonstrated the Ghanaian government’s proactive approach to economic recovery and its determination to leverage international partnerships for sustainable development.

Through these efforts, Ghana sought to position itself as an attractive investment destination and solidify its economic ties with the United Kingdom.

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