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Business News of Monday, 14 March 2016

Source: Flagstaff House Communications Bureau

Photos: Vice President addresses Indian investors

VP Amissah-Arthur in a group photograph with India's Minister for External Affairs, Mr V.K. Singh

The Vice President, Mr K. B. Amissah­Arthur, on Monday called for greater collaboration between India and Africa.

Mr Amissah­Arthur made the call when he addressed the opening session of a two-day investment summit in New Delhi, India.

Dubbed the “11th Confederation of Indian Industry (CII) EXIM Bank Conclave on Indian African Project Partnership”, it is the single largest gathering of Indian industry players with their African counterparts under the auspices of both the Indian EXIM Bank and the CII.

The summit is focusing on agriculture and agro processing, power, skills development and other sectors targeted for support under the improved Indian Government Lines of Credit to developing countries.

Addressing participants, Vice President Amissah­Arthur, pointed out that India and Africa have to further deepen economic cooperation for the mutual benefit of their people.

“We believe that India understands and appreciates the structure of our economies and our principles. That is why we are optimistic that enhancing economic relations with India will be more responsive to our call for the creation of a more inter­related stability and security that is required to get rid of short-term volatility and longer­ term uncertainty”, he said.

Mr Amissah­Arthur said Ghana seeks to build a prosperous society in a growing democracy with a vibrant press. He also touted the country’s enviable record of political and social stability in the West African sub region, whilst emphasizing, “Ghana has a competent and easily trainable workforce”.

“Ghana is a great location for reaching out to the 300 million people in the ECOWAS. Our doors are open to Indian investors and we look forward to doing business with you. Ghana is open for business”, the Vice President added.

In 2015, India was the second in terms of the number of investment projects registered by the Ghana Investment Promotion Centre and the ninth in terms of value.