Saudi Arabia to hold workshops to improve Hajj services

Ghana and Saudi Arabia are forging a new era of economic cooperation through strategic partnerships and investment diplomacy. An investment webinar organized by the Ghana Investment Promotion Authority (GIPA) in Riyadh highlighted Ghana's economic opportunities and development priorities for prospective Saudi investors. GIPA's focus on investment promotion goes beyond attracting financial resources, prioritizing investments that boost productivity, technology transfer, export competitiveness and sustainable development.

During the webinar, Victoria Cobbah, Head of the RGOD, emphasized Ghana's democratic stability, predictable regulatory environment and investor protection framework, as well as its role as host to the Secretariat of the African Continental Free Trade Area (AfCFTA). This provides investors with access to a market of over 1.4 billion people. Saudi investors can leverage Ghana as both a destination market and a base for accessing wider African markets.

The engagement revealed policy alignment between Ghana's development agenda and Saudi Arabia's Vision 2030, with both countries pursuing economic diversification, private-sector growth, infrastructure expansion, renewable energy development and technological advancement. This alignment creates opportunities for partnerships in various sectors such as agriculture, manufacturing, logistics, energy, healthcare, tourism and digital services.

Ghana's investment drive is supported by government initiatives like the Big Push Programme, which aims to expand infrastructure, and the Agriculture for Economic Transformation Agenda, which seeks to reposition the agriculture sector through commercialisation, mechanisation, irrigation and agro-processing. The Digital Jobs Initiative focuses on preparing the young population for the digital economy, while projects like the Black Star Experience and the Marine Drive Project aim to unlock investment opportunities in tourism, culture, hospitality and real estate.

The Riyadh engagement also underscored the importance of economic diplomacy in strengthening commercial relations. Ambassador Alhaji Said Sinare of Ghana encouraged Saudi investors to explore opportunities in sectors like minerals, agriculture, energy and manufacturing, while reaffirming the Embassy's readiness to support investors.

The interactive session addressed concerns related to foreign ownership, investment protection and business establishment in Ghana, highlighting that foreign investors can establish businesses under applicable laws, including arrangements that permit full foreign ownership. The discussions also highlighted interest in improved aviation connectivity and developments in transport infrastructure.