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Regent University Hosts His Excellency Ambassador Afare Apeadu Donkor


The Regent University College of Science and Technology hosted Ambassador Afare Apeadu Donkor in the first practitioners’ forum for the intake 3 of the Regent-Maastricht AMBA Accredited MBA class. The forum was held at the Executive Hall of the University on August 9, 2011. The objective of the MBA Practitioners’ forum is to facilitate a dialogue between Academia (theory of business management) and businesses in Ghana.
The topic for discussion was “Attracting foreign investment from Asia to a developing economy-what are the challenges and critical success factors from an organizational standpoint and a national perspective?”

 

The premise of the discourse is that Ghanaian businesses are bedeviled with various internal and external challenges which Regent-Ghana believes that if there is a good cooperation between the University and industry, there could be a bridge created through research to help businesses solve some of these practical challenges they face. As MBA students knowledge about foreign investment is critical for studies and businesses. To help expand this discussion, Ambassador Afare Donkor, former Ambassador to China in the Kufour Administration, throws light on how the topic interplays in government and diplomacy and its benefit to Ghana.

Ambassador Donkor reiterated that to be able to attract foreign investors to Ghana and create business opportunities, one needs to:

  1. KNOW THE ASIANS. - China, Japan, North and South Korea, Vietnam, Cambodia, Indonesia, Malaysia, Singapore and Hong Kong.
    1. Who are these Asians?
    2. What are their cultural practices, language issues and differences?
    3. Basic characteristics and idiosyncrasies.
    4. Types of economy
    5. Political systems
    6. Deng Xiao Ping theory (Expand).
  1. KNOW WHAT THE ASIANS WANT
    1. Raw material resource. e.g. Minerals, Timber, oil
    2. In return, sell finished products and technological knowhow. e.g.

Equipment, Computers, roads etc.

  1. KNOW YOURSELVES- A developing economy.
    1. Primarily, raw material resource base providers
    2. Attractive and negative cultural practices
    3. Rudimentary, educational, Health and infrastructural inadequacies.
    4. Global Village concept and competition in the world economy
  1. KNOW WHAT YOU WANT
    1. General infrastructural development. eg. Roads, Railways, Telecommunications, Health, Military hardware E.g. Planes, ships etc.
    2. Educational exchange programs
    3. Exploitation of our natural resources
  1. HOW DO YOU MAKE THE SYNERGY WORK?
    1. Appropriate Political system- (Open economies as against planned economy)
    2. Government to Government-exchange of visits
    3. Road Show- e.g. Investment Forum and Delegations (GIPC)
    4. Sino Africa Forum-(Expand)
  1. SUCCESS
    1. The success or otherwise in attracting foreign investment from Asia to a developing economy like Ghana will depend largely on the political will and direction of the various countries involved. Hence, the whole issue is about Leadership.

The MBA students engaged Ambassador Donkor through various questions bordering on his business acumen and the formation of giant banking and other financial institutions in the country. He advised the MBA students to be serious in their endeavors, cultivate success habit since as punctuality, time management and good grooming. He asked the participants of the forum never to give up in any endeavour when faced with challenges and that it is important in the face of any difficulty, a person decides to succeed at all legal cost.