Ghana has emphasized the importance of bilateral partnerships and investments in achieving the Sustainable Development Goals (SDGs), with a particular focus on poverty reduction, the first SDG. Yofi Grant, CEO of the Ghana Investment Promotion Centre (GIPC), made this call during an Economic Counsellors Dialogue in Accra. He highlighted the need for partnerships and investments in projects that can accelerate poverty reduction and promote economic growth.
Leveraging the SDGs for Poverty Reduction
Mr. Grant stressed the significance of leveraging the SDGs, especially SDG 1, to accelerate poverty reduction in Ghana. He called for investments in government projects like the Free Senior High School (Free SHS) and the Livelihood Empowerment Against Poverty (LEAP) program, which aim to alleviate poverty. He also mentioned the government’s efforts to add value to natural resources, promote manufacturing and export, and strengthen public-private partnerships (PPPs).
Adding Value and Moving Up the Value Chain
To boost economic growth, Ghana aims to add value to its rich natural resources, including gold, diamond, bauxite, iron ore, lithium, and manganese. Mr. Grant highlighted the need to move up the value chain and focus on manufacturing and export. The government intends to facilitate PPPs by providing support and comfort to investors, mitigating risks, and creating a conducive business environment.
Investment Opportunities in Various Sectors: Mr. Grant encouraged investors to explore opportunities in Ghana’s agro-processing, manufacturing, tourism, infrastructure, education, health, and creative art sectors. These sectors offer significant potential for growth and development, presenting attractive investment prospects for both local and foreign businesses.
Importance of Stronger Partnerships for Economic Expansion
Mr. Maher Kheir, the Dean of the Diplomatic Corps and Ambassador of Lebanon to Ghana, highlighted the critical role of stronger partnerships in increasing trade flows, expanding market access, and promoting sustainable economic growth. Economic Counsellors were urged to advocate for agreements that reduce trade tariffs, enhance market access, and stimulate economic activities for mutual benefit.
Revitalizing Partnerships for Investment and Economic Integration
The panel at the Economic Counsellors Dialogue called for the revitalization of partnerships to attract investment in transportation networks, acquire innovative technical skills, and improve connectivity. These measures are essential to drive economic integration, achieve the SDGs, and attract more Foreign Direct Investment (FDI) to Ghana.
Ghana recognizes the importance of strong bilateral partnerships and investments in achieving the SDGs, particularly in the context of poverty reduction. The government is actively promoting projects and programs aimed at poverty alleviation and economic growth. By adding value to its natural resources, focusing on manufacturing and export, and fostering public-private partnerships, Ghana aims to create a conducive environment for investment and attract FDIs. Enhanced partnerships, reduced trade barriers, and investment in critical sectors will drive economic expansion, contribute to sustainable development, and bring mutual benefits to all stakeholders involved.
