The Volta Regional Coordinating Council (VRCC) is considering establishing a “‘Sister-City” relationship with the Republic of Vanuatu.

This is because there are prospects of bright investment opportunities, in the areas of agribusiness and agro-processing, manufacturing, ICT and digital economy, real estate development, and energy (oil and gas) which exist in Vanuatu, could be exploited by the private sector of the Volta Region, according to the Regional Minister, Dr Archibald Yao Letsa.

He was briefing the Daily Graphic on a courtesy call on him by Vanuatu’s Trade Commissioner to Ghana, Professor Hugh K. Aryee in his office last Tuesday.

He said the visit was to enable Prof. Aryee to introduce himself and discuss mutual beneficial investments opportunities between the region and Vanuatu.

Dr Letsa said he also briefed the envoy on the sixth Volta Trade and Investment Fair slated for November 26 – December 10, this year, and requested Vanuatu partnership in ensuring in promotion of trade investments in the region.

When contacted, Prof. Aryee said his visit to the region was part of efforts towards supporting the industrialisation of key sectors of the two countries, “from agribusiness to pharmaceutical, and others.”

He also announced plans to support Ghanaian small, medium and scale firms to export to the Melanesia market, especially Vanuatu, in addition to promoting innovation in their circular economy for significant benefits to the two countries.

Investment

“Investment is going to be a crucial aspect of our cooperation, and we believe the Ghanaian market will take a noticeable role as a lead investor in Vanuatu’s economy,” Prof. Aryee said.

According to him, Vanuatu’s commitment to the development of sustainable, innovative bilateral trade solutions would be exemplified by the significant investments that would be made by Ghanaian investors in particular, and the West Africa sub-region in general.

Meanwhile, Prof. Aryee maintained that the establishment of the Ghana-Vanuatu Partnership Trade and Investment Scheme (GVPTIS) would strategically facilitate trade between Ghana and its trading partners in West Africa and beyond with anew focus on the Melanesian region.
                                               

Country profile

Vanuatu is an island country in the Melanesia, located in the South Pacific Ocean.

The archipelago, which is of volcanic origin is 1,750 kilometres east of northern Australia, 540 kilometres northeast of a New Caledonia, east of New Guinea, southeast of Solomon Islands, and west of Fiji.

The country has a population of 334, 506, with Bislama, English and French as the official languages.

The population of Vanuatu is predominantly young with 62 percent of the population below 24.

SOURCE: GraphicOnline