(Ghana) Forestry Commission and CEIEC sign MoU on forest resource development

Ghana News Agency via Factiva

TheForestry Commission and China National Electronics Import & ExportCorporation (CEIEC) have signed a memorandum of understanding (MOU) tostrengthen their cooperation in forest resource development and management.

Under the MOU, theForestry Commission and CEIEC would set up a joint bureau for the developmentof a forestry park that would help Ghana to achieve sustainable revenue fromits forest resources.

Mr Kwadwo OwusuAfriyie, the Chief Executive of the Forestry Commission, said the bureau to beestablished would ensure effective implementation of the Park and beresponsible for the planning and design, introduce investment and findcooperative partners, management and operations for the Park.

Th Ghana-ChinaForestry Economic and Trade Cooperation Park Project aims at building aninternationally advanced industrial cluster and bringing out a strongindustrial agglomeration effect to promote industrial upgrading, improve theindustrial chain, expand timber transactions, boost Ghana’s competitiveness inthe timber industry, and achieve a new tax growth point

The project componentsinclude Forest Cultivation and Logging Industry; Wood Processing andManufacturing Industry.

The park envisionsachieving sustainable profit through using forestry resources scientifically todevelop various bankable business portfolios in the Park and to facilitate theprotection activities which do not endanger the Water Resources, Forestry andWildlife Resources, and other aspects of the environment,” Mr Afriyie said.

He said the funding ofthe Park activities would be sourced from investment entities led by the bureauand it is estimated to cost $3.5 billion, adding that the project would be along-term one with the aim of a holistic development of the forestry sector forgreater job creation and revenue.

Mr Liu Zhirong, theVice President of CEIEC, who signed on behalf of his company, said the platformwould introduce relevant forestry economic investment, experience, andtechnologies to Ghana.

It would also guideprofessional companies to collaborate with the Ghanaian government to build acomprehensive international forestry economic and trade cooperation park.

The park will form astrong industrial agglomeration benefit and improve the comprehensivedevelopment efficiency of forestry in Ghana, while expanding the employmentrate in relevant regions,” Mr Liu said.

Ghana’s forestresource management has long been criticized for focusing on short-termeconomic value, beset by problems such as the lack of sustainable development,unplanned logging, illegal logging, and lack of technology and equipment fortimber production and processing.

The project seeks toresolve these problems by building an internationally advanced industrialcluster and creating a strong industrial agglomeration effect to promoteindustry upgrading.