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Ghana invites investment from India

Ghana has also set up a Free Zone.

Robert Tachie-Messon, the High Commissioner of Ghana, envoy to India announced that bilateral trade between India and Ghana is expected to reach USD1 billion by the year 2013, reports The Economic Times. The bilateral trade was USD818 million in 2010-11.

Tachie-Messon also invited investment by Indian companies in Ghana. Speaking about the investment opportunities, he stated that there is a wide scope for investment by Indian companies in Ghana in the fields of agriculture and infrastructure development, human resource development, oil, gas, energy, electricity, engineering, consumer appliances as well as heavy industrial equipment.

The government of Ghana intends to provide electricity to every person in the country by the year 2020. To this end, it is seeking investments and partnerships to bridge the existing shortfall of 3,000MW.

Tachie-Menson also stated that Ghana has set up a Free Zone, where traders will get benefits like tax exemption on all imports and exports and profits for 10 years, as well as an exemption from tax on dividends.