The President of Ghana, John Dramani Mahama has reiterated Ghana’s commitment to providing a sound investment environment for foreign investors when he presented his second State of the Nation Address in Parliament on Monday, February 24, in Accra.
President Mahama said his government is taking appropriate measures to ensure that foreigners who invest in the country are provided adequate security and protection.
He therefore urged investors not to be dismayed by Ghana’s “short-term economic challenges since the country’s economic fundamentals remain solid and mid-term goals are bright.”
According to him, the current economic turbulence the country was experiencing was temporary and would therefore be surmounted in the coming weeks adding that “growth continues to be robust at an estimated 7.4 per cent last year and we still retain our vision to accelerate and maintain GDP growth at above 8 per cent going forward.”
The President, who described Ghana’s economy as resilient and strong, also stated that Ghana still remains the most attractive destination of investment in West Africa, despite the continuous fall of the country’s currency.
President Mahama’s call for more investors could be seen as a timely intervention by the government to address the recent decline in foreign investment in the economy as reported by the Ghana Investment Promotional Centre (GIPC) earlier this year.
The fourth quarter investment report by GIPC revealed a 19% drop in foreign investments last year amounting to $3.9 billion as compared to almost $5 billion recorded in 2012.
The State of the Nation Address attracted a host of high personalities including the Vice President, PaaKwesiAmissah-Arthur and members of the Diplomatic Corp.
By: Prince Asare, Diplomatic Call
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