Ghana’s Ambassador to the United States, Victor Smith, says the government has stabilised the economy and is now shifting its focus towards expanding the productive sector.
He said the initial priority was to address economic challenges, particularly exchange rate instability and high inflation, before turning attention to sectors that can drive production, investment and job creation.
Speaking in a one-on-one interview with Desmond Danso on JoyNews, Ambassador Smith said the government had made progress on economic stabilisation and must now focus on growing productive activities.
“The initial thing we did was to stabilise an economy which was in complete mess in terms of our exchange rates and inflation and what have you. We’ve stabilised it. The next thing is to move the productive side,” he said.
Ambassador Smith said he was engaging investors in the United States to promote business opportunities in Ghana.
He identified mining, energy, agriculture and manufacturing as sectors with significant investment potential.
“There are big opportunities in mining, energy, agriculture, you name it, manufacturing. We will open up the place to the people,” he said.
He said attracting foreign investment into these sectors would be important to expanding Ghana’s productive capacity.
The Ambassador commended President John Mahama’s efforts but stressed the need for continuity in the government’s economic policies.
“If what President Mahama is doing so far, I applaud him. But what is important is that we must sustain the effort,” he said.