Ghana has developed a textile and garments manufacturing policy and incentive framework to attract foreign investment, according to trade and industry minister Kobina Tahir Hammond. It will be unveiled in the last quarter of this year.
At the inauguration of the US-Ghana Business Expo 2023 in Accra recently, Hammond said the intention is to make Ghana the new global garments hub by exploiting the quest for cost-competitive sourcing destinations.
Organised by the American Chamber of Commerce –Ghana, the US embassy in the country and other partners, the two-day expo with the theme ‘Leveraging US-Ghana trade relations for growth and prosperity’ offered a platform to foster bilateral trade collaboration.
Annual bilateral trade between the two sides hit an all-time high of $3.7 billion, with exports from Ghana worth $2.7 bn, according to a report.
Support has been stepped up in general for the private sector, both domestic and foreign, to enhance production and exports, particularly in the manufacturing sector, Hammond said.