2/8/2002

Ghana: Malaysian Chamber of Commerce
to promote investment in Ghana

The National Chamber of Commerce and Industry of Malaysia on Wednesday pledged to encourage Malaysian investors and businessmen to invest in Ghana. The Chamber said it would also encourage Malaysian companies operating in Ghana to become good corporate citizens.
The pledge was made by Mr Dato Seri Abdul Rahman Maidin, President of the Chamber, at a luncheon organised in honour of President John Agyekum Kufuor in Kuala Lumpur, Malaysia.
He said in this regard the Chamber would work closely with the Ghana’s High Commission in Kuala Lumpur to disseminate to Malaysian companies not only trade and investment opportunities but also their respective business practices and customs. Mr Maidin said trade between both countries last year amounted to 24 million dollars, although the value was small, trade and investment between the two countries are growing.
President Kufuor said there were 18 Malaysian investments in Ghana but only seven are in operation mostly in the telecommunications, dry-docks and film industry.
He said out of the seven, three are well established and doing well. President Kufuor said the remaining 11 investments were either put on hold or abandoned because of the 1997 financial crisis that affected Asian countries including Malaysia.
"With the financial crisis now behind us, I am confident that the owners of these projects will resuscitate them and render them operational in the healthy and secure business environment created by the current government," he said.
Earlier during the day, President Kufuor and his entourage visited the Malaysian Palm Oil Board (MPOB) at Bandar Baru Bangi, the National Information Technology Council (NITC) and the IRIS Corporation where they were briefed on the various interventions being put in place by the government to push the Malaysian economy forward.