The government is to license two auto­mobile companies, to assemble vehicles in Ghana, to bring the total number of companies in the sector to eight, the Deputy Minister of Trade and Industry, Michael Okyere Baafi has disclosed.

Already, there are six automobile companies assembling 13 different brands of cars in the country.

Mr Baafi disclosed this at a business networking reception for Indian companies in Ghana, last Thursday in Accra.

Organised by the Indian High Commission in Accra, the event formed part of activities of the 4th Session of the India-Ghana Joint Trade Committee meeting, convened by the Government of Ghana, to discuss issues of trade with the Indian government.

With various meeting with the government and key stakeholders, the Indian delegation including in­vestors, discussed existing and new areas of trade.

Mr Baafi urged Indian investors and businesses to establish com­panies in Ghana, to venture into the manufacturing of general car components.

According to him, many op­portunities exist in the automotive industry, especially in the area of general car components, because of the policy of the government to assemble vehicles in Ghana.

Mr Baafi said that government had entered into the second phase of its automotive agenda, and the intention was to support compa­nies to establish plants in Ghana, to manufacture general car parts.

To this end, he said a policy on Vehicle Component Manufacturing was being developed.

Mr Baafi entreated Indian companies to take advantage of the African Continental Free Trade Area (AfCFTA) initiative, to use Ghana as the hub, to enter African markets.

He commended India and Indian companies for the immense role they play towards the development of Ghana.

“We don’t take Indian companies for granted. Ghana is where it is because of the support of Indian companies operating in the coun­try,” Mr Baafi stated.

The High Commissioner of India in Accra, Manish Gupta, said India-Ghana Joint Trade Commit­tee meeting was to deepen trade ties with Ghana and explore new areas of investment.

He said Ghana was one of the countries India prioritised in terms of trade and investment.

Mr Gupta said trade and eco­nomic partnership between Ghana and India were as far back as Gha­na’s independence era.

The Joint Trade Committee meeting discussed areas of co-op­eration such as agriculture, health and pharmaceuticals and digital technology.

The Chief Executive Officer (CEO) of Ghana Investment Promotion Authority (GIPC), Yofi Grant, said Ghana was recovering from its economic shock and was doing better than previously.

He said the numerous invest­ment opportunities, has made Ghana a better place to do business among its peers.

Mr Grant said government was optimistic the numerous policies it was implementing would help boost the growth of the economy.

The government is to license two auto­mobile companies, to assemble vehicles in Ghana, to bring the total number of companies in the sector to eight, the Deputy Minister of Trade and Industry, Michael Okyere Baafi has disclosed.

Already, there are six automobile companies assembling 13 different brands of cars in the country.

Mr Baafi disclosed this at a business networking reception for Indian companies in Ghana, last Thursday in Accra.

Organised by the Indian High Commission in Accra, the event formed part of activities of the 4th Session of the India-Ghana Joint Trade Committee meeting, convened by the Government of Ghana, to discuss issues of trade with the Indian government.

With various meeting with the government and key stakeholders, the Indian delegation including in­vestors, discussed existing and new areas of trade.

Mr Baafi urged Indian investors and businesses to establish com­panies in Ghana, to venture into the manufacturing of general car components.

According to him, many op­portunities exist in the automotive industry, especially in the area of general car components, because of the policy of the government to assemble vehicles in Ghana.

Mr Baafi said that government had entered into the second phase of its automotive agenda, and the intention was to support compa­nies to establish plants in Ghana, to manufacture general car parts.

To this end, he said a policy on Vehicle Component Manufacturing was being developed.

Mr Baafi entreated Indian companies to take advantage of the African Continental Free Trade Area (AfCFTA) initiative, to use Ghana as the hub, to enter African markets.

He commended India and Indian companies for the immense role they play towards the development of Ghana.

“We don’t take Indian companies for granted. Ghana is where it is because of the support of Indian companies operating in the coun­try,” Mr Baafi stated.

The High Commissioner of India in Accra, Manish Gupta, said India-Ghana Joint Trade Commit­tee meeting was to deepen trade ties with Ghana and explore new areas of investment.

He said Ghana was one of the countries India prioritised in terms of trade and investment.

Mr Gupta said trade and eco­nomic partnership between Ghana and India were as far back as Gha­na’s independence era.

The Joint Trade Committee meeting discussed areas of co-op­eration such as agriculture, health and pharmaceuticals and digital technology.

The Chief Executive Officer (CEO) of Ghana Investment Promotion Authority (GIPC), Yofi Grant, said Ghana was recovering from its economic shock and was doing better than previously.

He said the numerous invest­ment opportunities, has made Ghana a better place to do business among its peers.

Mr Grant said government was optimistic the numerous policies it was implementing would help boost the growth of the economy.