Accra, Jan. 23, GNA - The Forestry Commission and China National Electronics Import & Export Corporation (CEIEC) have signed a memorandum of understanding (MOU) to strengthen their cooperation in forest resource development and management.
Under the MOU, the Forestry Commission and CEIEC would set up a joint bureau for the development of a forestry park that would help Ghana to achieve sustainable revenue from its forest resources.
Mr Kwadwo Owusu Afriyie, the Chief Executive of the Forestry Commission, said the bureau to be established would ensure effective implementation of the Park and be responsible for the planning and design, introduce investment and find cooperative partners, management and operations for the Park.
Th Ghana-China Forestry Economic and Trade Cooperation Park Project aims at building an internationally advanced industrial cluster and bringing out a strong industrial agglomeration effect to promote industrial upgrading, improve the industrial chain, expand timber transactions, boost Ghana’s competitiveness in the timber industry, and achieve a new tax growth point
The project components include Forest Cultivation and Logging Industry; Wood Processing and Manufacturing Industry.
“The park envisions achieving sustainable profit through using forestry resources scientifically to develop various bankable business portfolios in the Park and to facilitate the protection activities which do not endanger the Water Resources, Forestry and Wildlife Resources, and other aspects of the environment,” Mr Afriyie said.
He said the funding of the Park activities would be sourced from investment entities led by the bureau and it is estimated to cost $3.5 billion, adding that the project would be a long-term one with the aim of a holistic development of the forestry sector for greater job creation and revenue.
Mr Liu Zhirong, the Vice President of CEIEC, who signed on behalf of his company, said the platform would introduce relevant forestry economic investment, experience, and technologies to Ghana.
It would also guide professional companies to collaborate with the Ghanaian government to build a comprehensive international forestry economic and trade cooperation park.
“The park will form a strong industrial agglomeration benefit and improve the comprehensive development efficiency of forestry in Ghana, while expanding the employment rate in relevant regions,” Mr Liu said.
Ghana’s forest resource management has long been criticized for focusing on short-term economic value, beset by problems such as the lack of sustainable development, unplanned logging, illegal logging, and lack of technology and equipment for timber production and processing.
The project seeks to resolve these problems by building an internationally advanced industrial cluster and creating a strong industrial agglomeration effect to promote industry upgrading.
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