Gov’t urges Ghanaians in Diaspora to invest in national economy

Godwill Arthur-Mensah, GNA

Accra, July 7, GNA – Vice President Dr
Mahamudu Bawumia has urged Ghanaians in the Diaspora to invest in the national
economy to accelerate national growth.

He said it was a well-known fact that the
Ghanaian Diaspora possessed tremendous assets, knowledge, skills and talents.

He, therefore, urged them to invest these in
the macro, small and medium enterprises which would be an effective way of
creating jobs and generating income in the local community.

He said Ghana’s socio-economic development and
Diaspora remittances were inextricably linked and, thus, called on them to
support the efforts of government to achieve the objectives of the United
Nations’ Agenda 2030 of Sustainable Development Goals to reduce extreme poverty
and improve the standards of living of Ghanaians.

Vice President Bawumia said this in a speech
read on his behalf by Mustapha Abdul-Hamid, the Minister of Information, at the
closing ceremony of the 2017 Ghana Diaspora Homecoming Summit in Accra on

The three-day event was held on the theme:
‘‘Development, Opportunity, Value: Welcome Home’’, which attracted Ghanaians in
the Diaspora to access the opportunities in the economy.

The summit served as an avenue for mobilising
and harnessing the resources and skills of Ghanaian Diasporan Community to
accelerate economic growth.

There were exhibitions by corporate entities
and state institutions who demonstrated their support for the objectives of the
summit aimed at showcasing the opportunities and business prospects in the

The Vice President noted that using Diasporan
assistance was yet to be fully explored and indicated that if the Ghanaians in
the Diaspora invested in the macro-economy it would strengthen the government
policy for their mutual benefits.

He acknowledged the contribution of Ghanaians
living abroad saying ‘you contributed significantly through remittances to your
families at home that enhanced their economic life span.’

‘‘Your remittances increased household incomes
and paid some basic needs such as food, education, housing and medical services
and helped to improve the standards of living,’’ he explained.

He said it was part of the policy of the
government to work hard through the ‘‘One district, One Factory’’ imitative
aimed at industrialising the national economy.

He noted that the nation’s economic growth had
been largely urban-based leaving behind rural economy and, thus, compelling
rural-urban migration and believed that the policy would help to evenly develop
the economy and accelerate growth.

‘‘The One district, One Factory is our attempt
to catalyst broad-based and inclusive economy,’’ he noted.

Vice President Bawumia said the government
would ensure that the cumbersome procedures for setting up businesses and
enterprises were reduced to the barest minimum to enhance the country’s

‘‘In keeping with our promise to ensure that
Ghanaians living abroad play positive roles in the socio-economic and political
development of our country, Ghana’s diplomatic missions abroad are serving as
focal points for running Ghanaian experts and attracting Ghanaian investors
into the industrial sector, ’he explained.

He urged Ghanaians abroad to serve as avenues
for attracting trade and tourism promotion, saying return home as investors or
trade delegation from your countries of residence.

‘‘If we direct our energies to these matters,
then we will be serving our nation and building a resilient economy,’’ he

Dr Bawumia noted that government was poised to
address the issue of transparency and respond to their needs in a timely

“The rationale for establishing the Diasporan
Relation Office at the Presidency was to remove barriers that will prevent you
from accessing the services of government and state institutions and create a
sustainable and long-term relations for our mutual benefit”, he said.


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