PROMOTING TRADE & INVESTMENT BETWEEN GHANA AND VIETNAM
The Ghana National Chamber of Commerce and Industry
in collaboration with Embassy and Vietnam Trade Office to Ghana, organized the "Vietnam-Ghana Trade and Investment Promotion Forum" on the 9th of November, 2018 in Accra with the purpose of "Promoting Trade and Investment Opportunities between the two countries".
Present at the forum are; Hon. Robert Ahomka Lindsay - Deputy Minister of Trade and Industry (MOTI), Nana Dr. Appiagyei Dankawoso I, President of the Ghana National Chamber of Commerce and Industry (GNCCI), Mr. Edward Benjamin Ashong-Lartey, Director of Investment Service Division - Ghana Investment Promotion Center (GIPC); H.E. Mr. Pham Anh Tuan - Ambassador of Vietnam to Ghana, Mr. Hoang Tuan VIET - Commercial Counsellor & Representative of Ministry of Industry and Trade of Vietnam (MOIT), and nearly one hundred (100) businessmen and women of Ghana and Vietnam.
Nana Dr. Appiagyei Dankawoso I - President of Ghana National Chamber of Commerce and Industry (GNCCI) welcomed the business delegation of Vietnam to Ghana to the forum and stated that the Chamber is a professional body and a reputable organization in Ghana which serves as the voice of the business community; promotes and protects the interest of the private sectors. He added that the Chamber is ready to promote business and investment opportunities between two countries.
In response, Ambassador of Vietnam to Ghana, Mr. Pham Anh Tuan, informed the participants that although the situation in the world is fluctuating, Vietnam will always commits to corporate with other countries, especially Ghana, one of the potential countries in Africa. Mr. Pham Anh Tuan said that, in 2017, the two-way foreign trade turnover of Vietnam and Ghana reached nearly US$ 600 million, an increase of 18% compared to the year 2016, of which Ghana imported from Vietnam US$ 268 million of merchandise, while exported at US$ 320 million. He expressed his gratitude to GNCCI, in close collaboration with the Embassy and Embassy and Vietnam Trade Office, to hold this forum.
Hon. Robert Ahomka-Lindsay - Deputy Minister of Trade and Industry, Republic of Ghana (MOTI), said Ghana and Vietnam have the most favorable climate conditions and similarly, the agricultural sector of Vietnam is very developed, Ghana needs to learn and gain experiences from Vietnam. Ghana imports a lot of goods from Vietnam, of which the rice is mainly. Deputy Minister of Trade and Industry reiterates the visit by the Deputy Minister of Agriculture and Rural Development of Vietnam in 2016, emphasizing that in addition to import-export exchange, he also calls on the businessmen of Vietnam to invest Ghana.
Presenting "Opportunity of business and investment with Vietnam, Commercial Counselor – Representative of Ministry of Industry and Trade (MOIT) of Vietnam – Mr. Hoang Tuan Viet informs that Vietnam is one of the most developed countries in Asia, products of Vietnam with high quality, competitive price, interested by consumers. Vietnam has exported 49 main products to Ghana, including rice, garment-textile, machinery and equipment, motorcycles, fertilizers, plastic products, etc., of which rice is valued at US$ 204 million, accounting for 76% of Vietnam's total export to Ghana, and imports 12 main products from Ghana, including cashew and timber, accounting of 98% of total import value from Ghana. Representative of MOIT Vietnam also said that the Government of Vietnam pledged to maintain stable policy and create favorable conditions for foreign investors in Vietnam. According to the Foreign Investment Agency of Vietnam, by the end of 2017, there were 125 countries and territories have invested in Vietnam, with 24,748 projects, at the total registered investment capital of US$ 318.72 billion. Ghana has two projects with a total investment capital of US$ 1.01 million, at the 97th ranking among 128 countries and territories investing in Vietnam.
Presenting the Investment Opportunities in Ghana, Mr. Edward Benjamin Ashong-Lartey, Director of the Investment Service Division, Ghana Investment Promotion Center (GIPC), mentions the GDP growth of Ghana is 8.5% in 2017. Ghana had a trade surplus of US$ 1.4 billion, after five years of deficit. In terms of investment policy, Ghana prioritizes five key areas, including: energy, infrastructure, agriculture, tourism, processing. During the period from 1994 to 2018, there are 17 projects of Vietnam were invested in Ghana, with an investment capital of US$ 7. 24 million.
Sharing experiences of Vietnamese Investor in Ghana’’, Mr. VIET Le, Deputy Director General, DAN's MA Co. Ltd, Republic of Ghana, mentioned the preference policy of Ghana Government, made his company successful in shrimp farming in Ghana. Speaking at the forum, many Ghanaian businessmen are very glad when hearing the general information about Vietnam, and will be moving the direction of the business with Vietnam in the future.