West Africa must protect markets against undue foreign invasion – Veep
Vice President Paa Kwesi Bekoe Amissah Arthur has called for the need for countries in the West African sub-region to protect their markets from undue foreign invasion in order to protect the native industries.
Against a backdrop of an economic history of countries in the sub-region being engaged in primary production at the turn of the 20th century, the Vice President said efforts to engage in industrial production has been retarted by the influx of goods, mainly from the East.
The Vice President made the suggestion when he met with some students of the University of Chicago Booth School Of Business Africa Group, who called on him at the Flagstaff House in Accra.
The Group, on a two nation African tour of Ghana and Ethiopia, are in the country to study the economic success stories of the two nations in recent years.
The Vice President said Ghana, in addition to the production of primary goods, was moving into manufacturing and industrial production, as well as into the petroleum industry.
He said extended an invitation to investors to take advantage of the good conditions to make Ghana a preferred investment destination.
Describing the visiting students as leaders of business and industry in the next decade, the Vice President called for strong cooperation between Ghana and the USA for mutual economic returns.
He urged the students to tell Ghana’s story abroad adding that “the opportunities here are very great”.
The students were introduced to the Vice President by Mr Kweku Ricketts-Hagan, Deputy Minister Designate for Finance, an old student of the School.
Mr Adam Dzakpasu, co-chair of the Group, who led the delegation, said the visit to Ghana was motivated by the strong economic indicators.