Major Foreign Coys To Establish Presence In Ghana

Ghana’s business-friendly environment coupled with some buoyant economic activities and other solid macroeconomic fundamentals seems to be paying dividends as a large number of major international companies will in the next two to three months establish their presence in the country.

Chief Executive Officer of the Ghana Investment Promotion Center (GIPC), Mrs Mawuena Trebarh, who disclosed this in an interview, also revealed that the companies will set up base in the areas of Financial Service, Private Equity Market, Agribusiness, Manufacturing, Power and Infrastructure.

“…within the next two to three months, you will see quite a number of major international companies coming into the country……these are big multi-national firms that are already making their fourth and fifth reviews of potential investment (in Ghana)…,” she said.

She was speaking to Nana Kwadwo Asante of Peacefmonline.com on a variety of issues on the eve of the Annual Investment Meeting (AIM) in Dubai, UAE.

The ultimate goal of the AIM Conference is to provide the audience through a series of keynote speeches and case studies, a realistic insight on Foreign Direct Investment (FDI) and an in-depth review of investment opportunities arising from economically resilient markets.

According to Mrs Trebarh, the GIPC will put up a stand at the Trade Fair with the focus on providing delegates and investors an opportunity to find out more about the local business environment and foster links with those companies playing active roles in the market.

The GIPC boss also touched on measures put in place by her outfit to ensure that foreign companies do not change ownership after a few years of operation in Ghana, thus abusing the country’s tax laws by evading tax when the tax holiday granted them expires.

Expressing her abhorrence for “disregard for rules and regulations”, Mrs Trebarh indicated her resolve with the collaborative efforts of other stakeholders, to monitor and track “investments and their applications”.

“I have zero tolerance for disregard for rules and regulations and I’ll personally be involved in monitoring and tracking investments and their applications…let me also say that I’m very proud of the initial discussions that we’ve had with the revenue collection agencies, with the Ministry of Finance to look at ensuring that in our efforts to provide benefits and incentives to strategic investors, we also protect the revenues that must come to the country….

“Abuse of our legislation that’s meant to benefit in the long term is not something that as a center we will support or accept…

…we’re going to be tracking what the baseline situation currently is and what we’re looking to achieve before the year ends by way of ensuring that that sort of abuse does not occur or we bring it down to as near zero as possible,” she assured.

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