Volta House of Chiefs signs four agreements to attract Chinese investments

The Volta Regional House of Chiefs (VRHC), under the leadership of President Togbe Tepre Hodo IV, has recently solidified four key agreements with Chinese companies aimed at boosting investment, technology transfer, infrastructure development, and aquaculture in the Volta Region. During a one-week business mission to China, the House's delegation engaged in negotiations to establish international partnerships that would foster sustainable development in the area.

The first Memorandum of Understanding (MoU) was inked with Guangdong Welleap Information Technology Company, a prominent technology firm from Guangdong, China. This agreement is set to promote digital transformation and facilitate technology transfer, positioning the Volta Region at the forefront of technological advancements. The second MoU was signed with Foshan Jinting Construction Engineering Company Limited, a leading construction and engineering firm based in Foshan, China.

This partnership will focus on developing and enhancing infrastructure and industrial projects in the Volta Region, thereby contributing to the region's economic growth.

A third comprehensive investment agreement was reached with SINOHUI Investment Ghana Limited, a Chinese investment firm. This agreement provides a platform for Chinese direct investment into Ghana, opening avenues for increased capital inflows and expertise sharing. The final agreement, signed with Moaming Yuantian Food Co., Ltd., a major Chinese aquaculture company, focuses on investment opportunities in commercial fish farming within the Volta Basin.

Notably, Moaming Yuantian Food Co., Ltd. boasts a daily tilapia processing capacity of 150,000 kilogrammes, spread across nine production lines. The company also manages over 260,000 mu of tilapia ponds and exports its products to more than 70 countries globally.

The aquaculture partnership is projected to significantly enhance fish production, generate employment opportunities, and stimulate the development of commercial fish farming in the Volta Basin. These strategic agreements, facilitated by Ghana’s Ambassador to China, Mr Kojo Bonsu, with coordination by Mr Peter Ahiekpor from the VRHC, underscore a collective commitment to repurpose the Volta Region and Ghana for sustainable development through robust international partnerships.

Togbe Tepre Hodo, who spearheaded the delegation, emphasized that these agreements are part of a strategic move to harness international collaboration and innovation for the Volta Region's socio-economic advancement. The President expressed confidence in the VRHC's ability to attract further partnerships that could create jobs, bolster local production, and drive long-term economic development in the Volta Region.