Vice President Dr. Mahamudu Bawumia has invited investors from Austria to take advantage of Ghana’s economic and political stability to invest in the country.

Speaking at a B2B session with the Austrian delegation led by the Federal Chancellor, Karl Nehammer, in Accra under the Foreign Affairs Ministry’s auspices, the Vice President reiterated Ghana’s commitment to strategic partnership with the private sector, and enhanced efforts for industrialisation and productive transformation to achieve sustainable economic growth.

He said Ghana is open for business and eager to forge mutually beneficial and rewarding relationships with Austria.

“As Ghana and Austria seek to forge stronger bonds, we have to sustain such a relationship through improved technical and science-based education, technology; and also address unfair trade relations among others,” he stressed.

He noted that the Austrian Federal Chancellor’s participation at this business forum also demonstrates the Austrian government’s commitment to enhancing collaboration between the two countries’ private and public sectors for mutual benefits.

He noted that Ghana has a stable political environment, strong democratic culture, safe and happy people underpinned by freedom of expression.

“In the volatile West Africa, Ghana is ranked as the most peaceful country and the second-most peaceful country in Africa,” he emphasised.

He also noted Ghana has an educated and competitive and trainable labour force, which should motivate Austrian investors to consider investing in Ghana.

He observed the meeting’s timing is auspicious, as the devastating effects of COVID-19, climate change and an ongoing energy and food crisis have demonstrated a need for increased global collaboration.

“These global developments have amplified protection and distortions of supply chains, with ramifications for economies on the continent – including Ghana,” he stated.

Dr. Bawumia however noted that Ghana has initiated steps to bounce back stronger.

“Ghana has its fair share of these burdens, and is therefore making concrete efforts to bounce back stronger,” he stressed.

As we pull together to revive the global economy and secure our future against economic, environmental, health, and security threats, the contribution of Africa to these efforts cannot be understated.

Dr. Bawumia was pleased to see the union of Jospong Group and Komptec as the two signed a €30million agreement to support rice production in Ghana.

With the agreement, Komptec will support the Jospong Group rice project with machinery and technology.

“We see good prospects for reassuring and making the case for some your companies to operate from Ghana and export,” noted Dr. Bawumia as he witnessed the signing ceremony.