Sunday, 1 November 2015

Should The Association of Ghana Industries Not Be Collaborating With Its Japanese Countetpart?

It is time our ruling elites realised that Ghana could develop a very special and unique win-win partnership with Japan - in which the captains of Ghanaian industry collaborate with the captains of Japanese industry: to provide the Japanese economy with a disaster-risk reduction strategy to make it even more resilient than it currently is.

Because Ghana is located at the centre of the world, so to speak, by building factories here, Japanese companies could still export their products worldwide, were Japan to be struck by even the most severest of earthquakes ever experienced in world history - one that  virtually wipes out its entire industrial capacity (God forbid).

The question is: Now that the Association of Ghana Industries (AGI) is setting up an industrial development bank, why does its leadership not head for Japan, to kill two birds with one stone -  explore new sources for ultra-low-interest long-term funds for the industrial development bank, and to discuss the unique opportunity Ghana offers Japanese industry, to build further disaster-risk reduction resilience, into their business models?

Perhaps a good start to such joint-venture partnerships between Japanese companies and Ghanaian entities (both public and private), would be: cocoa processing; the Shea butter sector; gold refining and other benefication activities such as minting gold coins, producing small credit-card-sized  gold bars, gold jewellery; vehicle assembly plants; power plants; fish processing plants; agro-forestry plantations, to name a few.

 Such collaboration would benefit both nations' private sectors and help Ghana to grow its export trade across West Africa - and the rest of the continent.

The leadership of the AGI should definitely head for Japan - if the AGI's industrial bank is to be able to secure long-term low-interest funds. They ought to make developing  close relations between the AGI and its Japanese counterpart a priority.

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