Ghana, Singapore working to sign investment treaty
Minister of Foreign Affairs, Samuel Okudzeto Ablakwa, has revealed that Ghana and Singapore are poised to chart a new path of prosperity, progress and transformation through strengthened bilateral relations.
Speaking at the 2025 Ghana–Singapore Business Dialogue in Singapore City, under the theme “Forging Partnerships for Sustainable Economic Growth,” Mr Ablakwa praised Singapore as a source of inspiration for Ghana’s development journey.
“Singapore has defied the odds and transformed into a progressive country despite its small size. Ghana, which turns 70 in 2027, is determined to follow in Singapore’s footsteps to achieve similar transformation,” he said.
The Minister commended President John Mahama, describing him as a “nation builder” whose reforms have stabilised Ghana’s economy.
He highlighted that under President Mahama’s leadership, the cedi has become the strongest currency in the world, Ghana is no longer rated as junk status by international agencies and Fitch has upgraded the country’s credit rating.
Mr Ablakwa assured investors that Ghana remains a reliable partner, respecting all inherited agreements and avoiding any form of contract disregard or nationalisation.
He revealed that discussions are underway for a Ghana –Singapore Bilateral Investment Treaty (BIT) to be signed before the end of the year.
The Minister disclosed that Ghana will establish a permanent diplomatic presence in Singapore, with President Mahama expected to return next year to officially open a Consulate, the first of its kind for Ghana in Singapore.
Mr Ablakwa noted that Ghana is open for business and committed to prioritising economic diplomacy.
He also urged Singaporean investors to consider Ghana as their preferred destination for trade and investment.
