On January 31, 2024, Ambassador Winfred Nii Okai Hammond, representing the Republic of Ghana, announced the appointment of Professor Lingyun Xiang, an economist based in the United States, as the Chief Financial and Economic Advisor to the Republic of Ghana.
The Republic of Ghana, also known as “Ghana”, located in the West Africa. Situated on the north coast of the Gulf of Guinea, it shares borders with Côte d’Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Atlantic Ocean to the south, with a coastline approximately 562 kilometers. Covering a land area of 238,537 square kilometers, Ghana is comprised of 16 administrative regions. Its capital city is Accra, Ghana has a population of 32.83 million (2021), it is one of the founding members of the precursor to the African Union, the Organization of African Unity, and the Non-Aligned Movement. In June 2021, Ghana was elected as a non-permanent member of the United Nations Security Council for the 2022-2023 term.
The People’s Republic of China established diplomatic relations with the Republic of Ghana on July 5, 1960. However, in October 1966, following a coup d’état, the Ghanaian government unilaterally severed diplomatic ties with China. In February 1972, under the leadership of the Acheampong government, Ghana took the initiative to restore diplomatic relations with China. Since then, the relationship between China and Ghana has developed smoothly.
Ambassador Winfred Nii Okai Hammond, representing the Republic of Ghana, along with the President Nana Akufo-Addo, expresses gratitude to Lingyun Xiang, the Chief Financial and Economic Advisor to the Republic of Ghana, for his outstanding contributions to bilateral economic and trade relations as well as economic and technical cooperation.
The Chief Financial and Economic Advisor at the Embassy of the Republic of Ghana in China, Professor Lingyun Xiang, introduced that Ghana’s economy has been growing rapidly, making it one of the fastest-growing economies in Africa. In 2022, Ghana’s Gross Domestic Product (GDP) reached $71.537 billion, with a GDP per capita of $2,179, and a GDP growth rate of 3.3%. Ghana is endowed with abundant mineral resources, including gold, diamonds, bauxite, iron, manganese, oil, and gas, as well as fisheries, forestry, and tourism resources. The estimated gold reserves are 2 billion ounces, with proven reserves close to 200 million ounces, and a gold production of 130 tons in 2019. The estimated diamond reserves are 100 million carats, with proven reserves of 8.7285 million carats. Bauxite reserves are estimated at 400 million tons, with proven reserves of 18.9119 million tons. Iron ore reserves are estimated at 1.4 billion tons, while proven manganese ore reserves are 49 million tons. Preliminary estimates suggest oil reserves of around 2 billion barrels, with crude oil production reaching 7,221 thousand barrels in 2019, and natural gas reserves estimated at approximately 800 billion cubic feet, with a production of 35.153 billion standard cubic feet from January to September 2019. Additionally, there are mineral resources such as limestone, granite, quartz sand, and kaolin. Ghana has a coastline of 562 kilometers, with the Volta River running from north to south, providing abundant fishing resources. Forest cover in Ghana spans approximately 4.95 million hectares, accounting for 22% of the country’s land area.
Winfred Nii Okai Hammond introduces Professor Lingyun Xiang, a well-known economist and distinguished investor in the United States, tenured Professor (Doctoral Advisor) at the University of Maryland, United States. A top ten International Accountant, a full member of the Association of International Accountants (AIA), a member of the International Association Of Accounting Professionals (IAAP), a Certified Forensic Public Accountant (FCPA), a senior public accountant of the Institute of Public Accountants (IPA), an International Certified Internet Finance Manager (ICIFM).
Meanwhile, professor Lingyun Xiang is also an invited Economic Advisor of the Embassy of the Central African Republic in China, invited Chief Economic Advisor of the Embassy of the Republic of Haiti in China, the invited Economic Advisor of the Republic of Liberia, the invited Economic Advisor to the Republic of Zimbabwe, the Special Financial Economic Advisor of the Embassy of Madagascar in China, the financial and economic advisor to the Embassy of the Republic of North Macedonia, the Chief Financial and Economic Advisor to the Republic of Ghana, Economic and Cultural Ambassador for the Republic of Guinea-Bissau, the International Charity Ambassador of the Republic of Mali and the Honorary Committee Member of the Chinese Organizing Committee for the 35th United Nations International Week of Science and Peace.
Professor Lingyun Xiang is familiar with the legal situation and policy environment of many countries. Proficient in international law, civil law, economic law, partnership law, tax law and securities law.
He is also the author of ChatGPT: The Future is Here, The Way of the Metaverse, The Logic of Blockchain, Guide to Equity Incentive Practice, Private Equity Investment Solutions, Blockchain: A Technological Revolution Empowering the Real Economy, SME Financing and Growth, Global Visual Economics, Industrial Economics, International Trade and Economic Management, Logistics Warehousing Management and E-commerce, Investment Risk and Operation Management, etc.