The Vice President of the Republic of Ghana, Mr John Dramani Mahama, yesterday lauded the decision of some companies from the United Arab Emirates to boost the economy with investment in various sectors.
He said the Emirates have a lot of expertise and a good track record in investment and economic growth which can stimulate Ghana's rapid socio-economic development in the coming years.
The Vice President was addressing a business delegation from Dubai, United Arab Emirates, at the Castle, Osu which had called on him to express desire to invest in oil and gas, mining and tourism sectors of Ghana's economy.
The delegation after holding series of meetings with their Ghanaian counterparts has agreed to set up a joint committee to promote trade, politics and cultural relations between the two countries.
Mr Mahama said Ghana, a member of the West African Gas Pipeline, has a comparative advantage in the production of energy and appealed to the Business delegation to take advantage of the opportunity to explore and invest in those areas to meet the country's expected targets.
He said Ghana is currently producing 2,300 megawatts of electricity with a deficit of 2,700 mega watts and therefore a good partnership with UAE and others can help the country to achieve its 5,000 megawatts target.
The Vice President suggested to the business delegation to explore the chances of setting up a refinery that will refine oil and gas for both domestic and international consumption.
Mr Khaled Al Gaith, UAE Assistant Minister for Foreign Affairs, who led the delegation to the Castle, pledged to deepen relations between the two countries in the areas of trade, economics and politics.
He said a lot of UAE companies have created positive and magnificent impact on the Ghanaian economy, which has encouraged others to follow the examples of their predecessors.