Companies are urged to look into the potential in the US market.
Businesses in Ghana are being encouraged to investigate and invest in the vast United States (US) market.
In addition to helping Ghanaian businesses expand the range of products and services they offer, this would help them establish a global reputation and bring in money.
“The United States has been the number one global destination for Foreign Direct Investment (FDI) for the last 10 years,” stated Virginia Palmer, the US ambassador to Ghana, who offered the advice at an investment breakfast meeting held in Accra last Tuesday.
We are pleased that the United States is still at the forefront of the fiercely competitive FDI market.
Businesses from Ghana were briefed on the advantages of the American market and certain government services that could be of interest to them during a conference hosted by the American Chamber of Commerce (AmCham) and the U.S. Embassy in Ghana.
appealing consumer base
“The United States continues to be the most alluring consumer market in the world,” Ms. Palmer stated, citing the country’s $20 trillion GDP and population of more than 330 million as reasons.
Restructuring supply chains, creating over 2.7 million new jobs in 2023, and growing by 3.3% in 2023, the U.S. economy has proven resilient.
“3.3% is a high number for a big economy like ours, but I know Ghana has seen higher growth numbers in recent years.”
She went on to say that the United States upheld contract sanctity, robust property rights, and intellectual property rights, all of which contributed to the country’s favorable business climate.
According to her, all of these elements work together to boost investor confidence and create an environment that is conducive to business operations.
fostering closer relationships
“The U.S. economy is incredibly diverse, as many of you know from your travels, business contacts, and friends and relatives in the United States,” Ms. Palmer stated.
“Any investor can explore an industry sector somewhere in the country due to the breadth of our economy,” Ms. Palmer stated.
“Many of our industries, whether they be in food processing, personal care products, energy, ICT, or logistics, are complementary to Ghana’s economy,” the speaker stated.
Ms. Palmer also mentioned Niche Cocoa, stating that the company’s historic 2022 investment was the biggest African food processing investment made in the US.
Niche is using Wisconsin’s local dairy inputs while exporting cocoa from Ghana.
Niche can better meet the demands of its industrial clients in the US by being in closer proximity to them and providing intermediary items. Additionally, Niche is selling its branded chocolate bars straight to our big American consumer base,” the spokesperson stated.
