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Business News of Thursday, 6 September 2018

Source: dailyguideafrica.com

Sinotruck to set up manufacturing plant in Ghana

Sinotruk International and Ghana government have signed a Memorandum of Understanding (MoU) on Wednesday at Shandong Province in China for the establishment of an assembly plant in Ghana.

The Chinese company is one of the world’s leading manufacturers of heavy trucks. The yet-to-be-constructed assembly plant in Ghana is expected to serve the West African sub-region.

The assembly plant will no doubt boost the Ghanaian economy as the company would provide jobs for most of the unemployed youth to contribute their quota to the country’s economic growth.

It is estimated that the assembly plant, when it eventually comes to fruition, would have the capacity to assemble about 1,500 trucks every year for onward sale in Ghana and other West African countries.

The Trades and Industry Minister Alan Kwadwo Kyeremanten signed for Ghana, whilst a leading official of Sinotruk, also signed for his company.

Significantly, President Akufo-Addo, who was then on a State Visit to China, travelled from Beijing the capital city of China, to Shandong Province to witness the MoU ceremony.

In his remarks, President Akufo-Addo assured officials of Sinotruk International that his administration would provide every needed incentive for their investment in the country to succeed.

According to him, his government has created an enabling environment for private companies across the globe to invest in his country and make huge profits and also help to boost the Ghanaian economy.

President Akufo-Addo commended Sinotruk International for taking the appropriate step to establish an assembly plant in Ghana to serve its West African market, predicting that the company would succeed.

He took the opportunity to appeal to other companies and investors across the globe to emulate the shining example of Sinotruk by also investing in Ghana, a peaceful country.

The General Representative of Sinotruk International, Zhang Yuzong, announced that the assembling plant would boost the Ghanaian economy, provide jobs and also lead to technology transfer to Ghanaians that would be employed.

Mr. Yuzong indicated that the company has a proud history of being manufacturers of a wide range of heavy duty trucks, buses, special trucks, engines and their sets, parts and special chassis.

On behalf of his company, he lauded President Akufo-Addo and his government for their vision and commitment to open the gates of their country to investors like Sinotruk to enter into Ghana’s business space.