GIPC Signs Memorandum of Understanding with Malta Enterprise to Boost Trade and Investment

Company News of Thursday, July 11, 2019

Source: Myjoyonline.com

2019-07-11

The Ghana Investment Promotion Center (GIPC) has signed a Memorandum of Understanding with Malta Enterprise, Malta's economic development agency, to attract new foreign direct investment and facilitate the growth of existing operations.

The Memorandum of Understanding empowers both parties to set up a strategic think tank composed of officials from both agencies and stakeholders in partnership, which will develop a three-year strategy covering areas of mutual interest.

GIPC CEO Yofi Grant signed on behalf of GIPC while Micheal Grech, director of Malta Enterprise, signed on behalf of his agency.

As part of the Memorandum of Understanding, GIPC and Malta Enterprise will collaborate to set up information-sharing mechanisms by regularly exchanging information on economic and commercial news, laws and regulations, policy measures, industry standards and trends, market badysis reports, exhibitions and forums, as well as business contacts. as investment projects in Ghana and Malta.

They will also organize business delegations related to trade and / or investments in the country of one of the parties, as well as support and badistance to visiting business delegations organized by the other party.

The two sides agreed to co-organize various events, including economic and trade policy dialogues between government agencies and business delegations in both countries.

The signing of the Memorandum of Understanding follows President Akufo-Addo's recent state visit to Malta in March, where he held bilateral talks with his Maltese counterpart at the time, Marie. -Louise Coleiro Preca.

The Maltese president was one of the first foreign leaders to make an official visit to Ghana under the current government.

During his visit, President Akufo-Addo urged Maltese companies to take advantage of the new momentum given to Ghana-Malta relations through reciprocal visits and to invest in Ghana.

From 23 to 27 June, a high-level Maltese business delegation visited the country to explore business and investment opportunities in Ghana.

The delegation included Malta Enterprise Business Development Coordinator Cain Grech; Trade Malta's Managing Director, Anton Buttigieg; Malta's ambbadador to the AU, Ronald Micallef; Annalize Attard, director of scientific and regulatory operations of the Malta Medicines Authority; and Transport Malta's chief of transport operations, Mark Caruana Arena.

The delegation was led by the Maltese High Commissioner to Ghana, Jean Claude Galea Mallia.

The visiting delegation met with various government ministries, agencies and departments as well as the Ghanaian private sector to explore opportunities for cooperation in the areas of trade and investment.

Mr. Mallia highlighted some of the reasons for the visit and said that the relations between Ghana and Malta had been amicably transformed with the signing of bilateral treaties including a double taxation agreement to improve trade and investment between the two countries.

He added that the Maltese government also saw Ghana as a strategic partner in Africa, especially at a time when Ghana was pushing for more exports than for imports.

The ambbadador also said that Malta had the intention to collaborate with Ghana in the areas of transport, education, trade and health, among others: "we are not here for exploratory reasons, we are here to get things done. "

The Head of GIPC welcomed the proposed projects discussed with the delegation, adding that Ghana was ready to find strategic partners and investors to grow its economy and for mutual benefit.

"Our country is located in the center of the world, giving you easy access to other African markets, including ECOWAS. We are a politically stable country and we are very proud to be the most peaceful in the West African subregion. "