Ambassador Smith urges investors to create well-paying jobs to curb brain drain
The Embassy of Ghana in the United States, in collaboration with Region 17, has held a special business roundtable in Chicago, Illinois, bringing together investors, business leaders and other stakeholders to explore investment opportunities and strengthen economic ties between Ghana and the United States.
In a business roundtable held in Chicago, the Ghanaian Ambassador to the United States, Victor Emmanuel Smith, emphasized the need for productive investments that generate sustainable, well-paying jobs for young people. He urged investors to move away from resource extraction-focused projects and instead focus on partnerships that foster local manufacturing, skills development, technology transfer, and the expansion of Ghanaian enterprises.
Smith expressed a preference for investment initiatives that cultivate factories, develop skills, and establish supply chains. Following the roundtable, Ambassador Smith proposed the formation of a Ghana–Chicago Strategic Business Investment Partnership. This collaboration, set to commence within 90 days, aims to connect interested companies, investors, diaspora professionals, and relevant institutions.
The Ambassador identified agribusiness, advanced manufacturing, financial services, digital technology, and aviation as five priority sectors.
He also encouraged investors to view Ghana as a gateway to the African market of roughly 1.4 billion people, highlighting potential in agricultural processing, cocoa value addition, food production, manufacturing, and logistics. Moreover, he advocated for partnerships that reinforce local supply chains and generate prospects for small and medium-sized enterprises.
Illinois State Senator for the 16th District, William Preston, echoed the Ambassador's sentiments during his speech. He acknowledged the historical and cultural ties between Chicago and Ghana, stressing the importance of converting these links into robust economic partnerships. Preston pointed towards agriculture, manufacturing, technology, workforce development, and education as potential areas of growth.
In addressing Illinois' teacher shortage, he proposed recruiting teachers from Ghana and forged a potential alliance between Chicago-based Brown Sugar Bakery and Ghanaian businesses.
Other attendees shared stories of successful diaspora-led investment ventures, such as a Chicago real estate mogul who brought a group of 50 investors to Ghana for a conference. They underscored the significance of linking diaspora investors with businesses and entrepreneurs in Ghana. The roundtable solidified the mutual desire of Ghana and Illinois to forge practical, advantageous commercial relationships, emphasizing the transformation of investment discussions into enduring partnerships, business opportunities, and jobs.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
