President John Kufuor on Monday said government was committed to promote the private sector for Ghanaians and their partners to contribute effectively towards the country's national development efforts.

He expressed the hope that investors yearning to do business in the country would be good corporate citizens in the country's development.

President Kufuor said this when he unveiled a plaque to officially open the first Woolworths (Ghana) Retail Store in the country in Accra. The two stores are located in the Horizon Centre, near Granada Hotel and in the City Car Park Building at Accra Central. The store jointly operated by Woolworths of South Africa and Handa Group of Companies has plans to open a second store within the Okaishie area of Accra, on Tuesday 19 November and two others in Tema and Kumasi, next year.

President Kufuor said the establishment of the store, the first within the West African Sub-Region, was an indication that the owners had confidence in the country's economy and future. "Choosing Ghana as the first place to operate indicates that you appreciate the fact that Ghana is the gateway to the Sub-Region. We see you as a true partner of Ghana," he added.

He said the Company would not only sell goods, but hopefully, venture into the manufacturing of garments under the President's Special Initiatives (PSI) in Garments and Textiles. President Kufuor urged the management of the Company to endeavour to invest in the processing, marketing and packaging of farm produce in the country.

Cobus Barnard, Head of Franchise of Woolworths South Africa said since the past two years the Company had invested about $10m in Ghana and expressed the hope to open another retail store in Nigeria next month. He said the Company had about 52 retail stores in 19 countries in Africa and the Middle East.

Ish Handa, Chairman of the Board of Directors of Handa Group of Companies said the company invested in Ghana because of the stability in the economy and the friendly environment. He pledged ?101m to the Mother and Child Community Foundation, a Ghanaian NGO for its activities.