Executive Vice President of Phillips Royal, Ronald De Jong, has announced the global electronics giant will soon begin investments in the country’s health and power sectors.
This revelation was made after the Vice President met with officials of the Ghana Investment Promotion Center (GIPC) in Accra on Tuesday July 2.
Mr. De Jong who arrived in the country on July 1 as part of Phillips annual flagship pan-African Cape Town to Cairo roadshow indicated, he is confident in Ghana’s economy.
According to him, the political stability in the country won Ghana over other African countries that Phillips has been considering to invest.
Mr. De Jong told the media after the meeting that Phillips intends to invest directly in the health sector with innovations that best address challenges in maternal health, child care, breast care as well as clinical education and training.
He also disclosed that as part of their investment portfolio, the company will replace conventional lighting systems in the country with LED technology especially in the rural areas with access to electricity and for street lights in the city.
“We want to ensure local relevance because we do not want to be simply traders”, he added.
Chief Executive Officer (CEO) of GIPC, Mawuena Trebarh, during a presentation on investment opportunities in Ghana said there were lots of incentives for companies wishing to invest in the country.
She told the media that Phillips is one of many companies that will be coming into the country in the next few months.
Mrs. Trebarh, who has been touring parts of the world wooing investors to come to Ghana said lots of investment will soon be seen in the power sector where private firms have expressed willingness to partner government to solve the current energy crisis.
According to her some companies in the real estate sector will soon be in Ghana to invest in the sector to reduce the huge housing deficit.
Meanwhile, Director in Charge of Investor Services at GIPC, Augustine Otoo, said plans for an airport to be built in the Western Region, specifically for the oil operations, have been gone far.
In a related development, Parliament is likely to pass the Ghana Investment Promotions Bill 2013 this week after several deliberations on it. The bill when finally in force, will regulate the investment climate in the country.