A Chartered Economist Dr. John Gatsi, has welcomed the Chinese government?s directive to all Chinese manufacturing companies operating in Ghana to set up a manufacturing plant in Ghana from next year.
According to John Gatsi the move will create employment opportunities while products produced will be cheaper than when is imported.
?Establishing a hub for example in Ghana makes it even easier in the distributing process of the goods across the region. That is one of the reasons why China may like to set up manufacturing plants in Ghana.?
The Chinese Ambassador had earlier told Citi Business News that the Chinese government had directed Chinese production companies to set up manufacturing plants in the country.
With Ghana?s export to China increased by 30 percent in the first three quarters of 2015, statistic from the Ghana Investment Promotion Council (GIPC) also reveal that China?s foreign direct Investment (FDI) to Ghana in the first three quarters of 2014 reached 1.11 billion dollars which accounted for 65.7 percent of FDI to Ghana.
Speaking to Citi Business News Economist and Senior Lecturer at the University Of Cape Coast Business School, Dr. John Gatsi said this will help to open up the Chinese market in Ghana to boost the economy.
?This is going to make goods that they produce cheaply available to Ghanaians especially when those manufacturing intermediary products that would be used for further manufacturing activities in the country. We also are going to get the era that would provide for jobs, even though payment to labour would not be so much but it would help in recruiting people for economic activities.?
But to a large extent it would open up Chinese market within Ghana, provide the opportunity for easy access to intermediary goods for manufacturing and other industrial activities in the country. – Dr. John Gatsi said
Norvan Acquah – Hayford