President John Agyekum Kufuor has urged Ghanaian businessmen and entrepreneurs to adopt best management practices and embrace modernisation to meet the requirement of the market.

He said it is such practices and successes that will serve as a point of reference for foreign investors who are desirous to do business in the country.

Speaking at the commissioning ceremony of Ernest Chemist multi-billion cedi Pharmaceutical Manufacturing Plant at the Tema Heavy Industrial Area, on Friday, last week, President Kufuor said as his government strives to make investment climate in Ghana attractive to foreigners, it is also aware that foreign investment will only come, when Ghanaians themselves demonstrate this confidence and invest in the country.

The plant has the capacity to produce 400 million tablets, 100 million capsules, 300,000 litres or 3,200,000 bottles of oral liquids (syrups/tonics), 400,000 litres of non-oral liquids and the 750,000 bottles of suspension in dry powder form for paediatric use, on a single shift basis.

With a staff strength which now stands at 110 from 4 in 1986, made up of pharmacists, chemists, biochemists, engineers, laboratory technologist and other auxiliary personnel, according to the Chief Executive, Ernest Bediako-Sampong, they all have one goal and that is the desire to be part of the effort to address Ghana's health problem.

It is intended that the plant will actively collaborate with reputable institutions in Ghana, like the Noguchi Memorial Research Centre, Mampong Centre for Research into Plant Medicine and the Faculty of Pharmacy of the KNUST to develop high quality herbal formulations with accurate and easy to administer dosage forms.

Mr. Bediako-Sampong, however, expressed satisfaction that what he began in 1986 as a one-man business has developed into one of the best pharmaceutical companies on the continent.

To this end, President Kufuor acknowledged that there have been too many examples of businesses in the country that start and end as one-shop entities.

On his part, the acting British High Commissioner, Mr. Robin Gwynn, said British interest in the success and continuing development of Ernest Chemist is an excellent example of the kind of partnership that Britain welcomes and encourages.

He stated further that with the establishment of the plant it means that quality drugs will now be made affordable through technology transfer, with added benefits in terms of generating employment and increased foreign exchange earnings.