A Maltese company is investing in a pharmaceutical laboratory in Ghana that will be able to produce medicines in line with European standards.
Chris Busuttil, Chief Executive Officer of Evolve, was part of the latest Maltese trade mission to visit the West African country. The delegation was led by Economy Minister Silvio Schembri.
“Ghana was a natural choice for us since the country is going through an industrialisation process,” Busuttil said. He has visited the country seven times, having first travelled there as part of the first trade mission three years ago.
The company, he said, is developing an important project since this is the first company in the region that is producing pharmaceutical products in line with European Union levels.
Busuttil remarked there was great interest about the project, and spoke about common interests between the two nations.
“We want to do here what we did in Malta 10 to 15 years ago. They are going through an industrialisation process and want to do away with inferior products coming from other countries and improve their level.”
He asserted that doing business in Ghana is quite easy, since the locals speak English and are very punctual and trustworthy. Maltese entrepreneurs, he said, should be encouraged to invest in Ghana.
Five multi-sectoral Memorandum of Understandings (MOU) were signed during this week’s visit.
27 Maltese companies, as well as entities such as Malta Enterprise, MCAST and the University of Malta formed part of the delegation.
During the second Ghana-Malta Business Forum held in Accra and organised by TradeMalta, Minister Schembri said that Malta has placed Ghana at the top of its list for new efforts to develop further trade with the African continent. This decision is central within the Malta-Africa 2020-2025 Partnership Strategy, launched earlier by this government with the aim of creating trade opportunities for both countries, while bringing its people closer together.
Malta Enterprise signed an MOU with Impact Hub Accra, a leading social entrepreneurship and innovation centre in Ghana leading inclusive growth of start-ups through various incubator and accelerator programs. Collaboration shall take place in these potential sectors; healthcare, food technologies, aviation, creative economies and light industry. The aim of the programme is to recognise and support entrepreneurial activities of mutual interest and help them create opportunities for both countries.
Other MOUs were signed between the Malta Medicines Authority and the Ghana Standards Authority, and between MCAST and Accra Technical University.
Malta-based AquaBiotech Group signed two other memorandums of understanding with Ghanaian counterparts for business development in aquaculture and fisheries.
Schembri also discussed the possibility of an education and entrepreneurship programme for irregular Ghanaian migrants in Malta, whereby, after following this programme, these people would return to Ghana lawfully and be in a better position to start new economic activity in their homeland.
This would give Ghana nationals a new opportunity for a better future and, at the same, help the country to generate more economic activity through new business start-ups and trade.
Malta and Ghana also discussed the enhancing of international connectivity to Ghana via a new route operated directly from Malta by Air Malta.
Schembri said that such an initiative is key to boosting trade between Ghana and the rest of the European Union. However, this requires significant investment which entails cooperation from both countries.