In terms of publicity, the Mission has lost no opportunity or spared any effort to publicize the investment code and the package of incentives therein, the Free Zones and Gateway Projects as well as the Country's economic and tourism potentials with a view to attracting Korean businessmen and investors.
Mission continues in its efforts to encourage Korean businessmen and investors to consider extending their business, investment and technological expertise to Ghana to facilitate Ghana's development programmes.
Between 1998-2002, eleven(11) projects involving Korea Direct Investments in Ghana were made. The total value of these investments was less than $1 million. This is a reflection of the low flow of Foreign Director Investment (FDI) to Africa as a whole, notwithstanding the generous incentives offered by many African countries.
Though many African countries have been enjoying prolonged periods of stability, the general impression in the minds of a large segment of Korean investors is that, Africa is too distant and risky a place to do business. Governments, Investment Promotion Centres and Embassies have been labouring tirelessly to correct this wrong perception.
Several Ministers of State have visited Korea all in an effort to promote investment and trade. The Embassy has also undertaken trade and investment promotion through participation in trade fairs, and bazaars, business meetings, presentations on Ghana to the Korea Chamber of Commerce and Industry, the Korean Importers Association, publications in the local media and the dissemination of publicity material.
It is important to mention that Ghana is competing with other countries notably from the Asian peninsular such as China, Japan, India, Vietnam and Uzbekistan for Korean investors. These countries are advantageously placed in terms of proximity, size of market, cultural similarities, etc.
In this regard therefore, Mission requires full support and cooperation from stakeholders in respect of logistics such as CDs, DVDs, pictures depicting socio-economic and tourism potentials and art works and wooden carvings on Ghana's culture.
This explains why government and Mission need to further intensify efforts at wooing Korean investors and businessmen. Mission has noted that it is difficult for most of Ghanaian companies to directly participate in fairs and exhibitions organised by host country due to distance between the two countries as well as high cost of travelling. In this regard Mission wishes to request that MDAs and manufacturers send the following items to the Mission for display at exhibitions, bazaars, fairs, etc.