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

Company News of Monday, July 8, 2019

Source: Ghana Investment Promotion Center

2019-07-08

The Ghana Investment Promotion Center (GIPC) signed a Memorandum of Understanding on June 24, 2019 with Malta Enterprise, Malta's Economic Development Agency, to attract new foreign direct investment and facilitate the growth of foreign direct investment. existing operations.

The Memorandum of Understanding empowers both parties to set up a strategic think tank composed of officers from both agencies and stakeholders in partnership, who 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 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 upon the recent state visit to Malta on 26 March 2019 of His Excellency Nana Addo Akufo-Addo Dankwa, where he had bilateral talks with his Maltese counterpart of the 39th time, Her Excellency Marie-Louise Coleiro Preca. The Maltese president was one of the first foreign leaders to officially visit Ghana under the authority of the current government on July 26, 2017.

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.

This clarion call saw a high-level Maltese trade delegation travel to the country from 23 to 27 June 2019 to explore business and investment opportunities in Ghana.

The delegation included the Malta Enterprise Business Development Coordinator, Mr. Cain Grech; the Director General of Trade Malta, Mr Anton Buttigieg; the Ambbadador of Malta to the African Union, Mr. Ronald Micallef; the Director of Scientific and Regulatory Operations of the Malta Medicines Authority, Mr. Annalize Attard; and Mr. Mark Caruana Arena, responsible for transport operations in Malta. 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.

He also indicated that Malta intends to collaborate with Ghana in the areas of transport, education, trade and health, inter alia: "we are not here for exploratory reasons we are here to get things done. "

GIPC Chief Executive Officer, Yofi Grant, welcomed the proposed projects that were discussed with the delegation, adding that Ghana is open to seeking strategic partners and investors to grow its economy and generate 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. "