The Secretariat for Ghana’s 24-Hour Economy and Accelerated Export Development Programme has commenced negotiations with the Volta River Authority (VRA) and the Ghana Infrastructure Investment Fund (GIIF) on a Master Concession Agreement for the development of the Volta Economic Corridor, marking a significant step towards implementing one of the government’s flagship economic transformation projects.
The negotiations are expected to establish the legal, financial and technical framework for developing the Corridor, a strategic initiative designed to unlock the economic potential of the Volta Lake and its surrounding resources by driving investment in agriculture, industry, logistics and trade.
The inaugural negotiation session brought together the Chief of Staff, Dr. Julius Debrah, Presidential Adviser on the 24-Hour Economy and Accelerated Export Development Programme, Augustus “Goosie” Tanoh, the leadership of the Volta River Authority and the Ghana Infrastructure Investment Fund, as well as technical negotiating teams from the three institutions.
Officials said the discussions represent another major milestone in implementing the 24-Hour Economy and Accelerated Export Development Programme, which seeks to transform Ghana into a highly productive, export-driven economy by encouraging round-the-clock economic activity, expanding industrial production, boosting value addition, increasing exports and creating sustainable jobs.
The Programme is expected to leverage Ghana’s strategic assets and strengthen key sectors of the economy through improved infrastructure, public-private partnerships and increased investment in production and logistics.
Central to that vision is the Volta Economic Corridor, which is expected to harness the vast economic opportunities presented by the Volta Lake and adjoining lands. The project aims to improve transportation and logistics, expand commercial agriculture, promote agro-processing and industrial development, facilitate domestic and international trade, attract private sector investment and generate thousands of employment opportunities across the country.
The Secretariat said negotiations on the Master Concession Agreement will define the institutional arrangements, financing mechanisms and operational framework required to drive the Corridor’s long-term development.
It noted that as implementation of the 24-Hour Economy and Accelerated Export Development Programme gathers momentum, efforts are being intensified to strengthen strategic partnerships and institutional collaboration needed to deliver transformative projects capable of accelerating economic growth, expanding Ghana’s export base and enhancing national competitiveness.
Source: www.kumasimail.com
