President Nana Addo Dankwa Akufo-Addo on Monday August 3, 2020, officially unveiled the first VW assembled-car by the global automobile giant, Volkswagen in Ghana.
The German car-maker, Volkswagen, with its seven assembled brands in Ghana; Tiguan, Teramont, Amarok, Passat, Polo and Caddy cars in the first phase, says, it will produce 5,000 VW cars onto the Ghanaian market annually.
Volkswagen and the Government of Ghana on Thursday 30th August, 2018 signed Memorandum of Understanding, in Accra, after the company had announced plans to set up an automotive assembly plant in country.
Mr. Thomas Schäfer, MD of Volkswagen, South Africa and Alan Kwadwo Kyerematen, Ghana’s Minister of Trade and Industry, signed respectively at a ceremony witnessed by Ghana’s Vice President, Dr Mahamudu Bawumia, and the Chancellor of the Federal Republic of Germany, H.E. Dr Angela Merkel in Accra.
President Akufo-Addo, before unveiling the VW cars at Kimpinski Hotel in Accra said, the establishment of VW assembly plant in country would significantly reduce the country’s import bills, enable it save foreign exchange, as well as, reduce the over reliance on used import vehicles.
Ghana’s import Bill hovers around $10 billion. In 2018 the country’s import duty hit a record high of $12 billion.
The President said VW brands assembled in the country would not only be affordable but also of high quality that can match global standards.
He said all over the world, domestic automobile industries are capable of providing cars for low income people and that “we should be working towards same here in Ghana, whereby, low income earners, can also have access to brand new cars.
President Akufo-Addo said the ingenuity and vision envisaged by the government in drafting the Ghana Automobile Development Policy (GADP) has enabled the country attract global automobile giants such as Volkswagen, Sino Truck, Toyota and others into the country’s automobile industry.
The new law—meant to draw investment—among others, provides import-duty rebates for companies that manufacture or assemble cars in Ghana
Chief Executive Officer Volkswagen, Scott Keogh in a virtual message said, the Ghana Automobile Development Policy is groundbreaking for Ghana and her automobile industry.
He said with the 5th assembly plant established in sub-Saharan Africa, VW in Ghana marks a further deepening of relations between Ghana and Germany and urge other global companies to take advantage of the enabling environment and invest the country.
Rex Mainoo Yeboah, ISD
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