The CEO of the Ghana Investment Promotion Centre (GIPC), Mr. Simon Madjie, spoke at a high-level US-Ghana Commercial Dialogue in Accra with the American Chamber of Commerce (AmCham) Ghana.
He discussed how impending policy and investment changes are changing Ghana’s investment environment.
Speaking on the subject of “Unlocking Ghana’s Investment Opportunities: Policy Clarity, Incentives and Private Sector Growth,” he stated that the proposed Ghana Investment Promotion Authority (GIPA) Bill would better support long-term, mutually beneficial partnerships by modernising its incentive framework, simplifying entry procedures, and bolstering investor protections.
Mr. Madjie emphasised Ghana’s medium-term goal of creating an economy worth 140 billion dollars, which is supported by anticipated real GDP growth and a strong pipeline of bankable projects in the fields of manufacturing, energy, infrastructure, tourism, agro-industry, and business process outsourcing.
Additionally, he emphasised specific incentives as instruments to reduce investment risk and attract private capital for priority industries, such as locational rates as low as 5% in specific northern Ghanaian regions and concessional tax regimes.
At the conference, which was attended by representatives of US companies, partners, and financiers, Madam Doris Kafui Afanyedey, the CEO of AmCham Ghana, emphasised the need for Ghana’s recent macroeconomic stabilisation to result in long-term employment, technology transfer, and foreign direct investment (FDI).
She highlighted continuing digitalisation and expedited clearances as important initiatives that need to be accelerated in order to make reforms evident at the firm level, emphasising ease of doing business as a key element for investors.
Source: newsthemegh.com