Develop local competence to attract investments—GIPC boss

Business News of Wednesday, 4 March 2015

Source: B&FT

Mawuena Trebarh GIPC New

Chief Executive of the Ghana Investment Promotion Centre (GIPC), Mrs. Mawuena Trebarh, has underscored the need for the country to develop business ideas and boost the competence of local entrepreneurs to enable them partner foreign investors in the interest of socio-economic growth.

Speaking at the press launch of the maiden national entrepreneurship seminar to harness, develop, and shape business initiatives of aspiring entrepreneurs, in Accra, she said the economy can attract high-value investments only when local manpower is empowered to match the aspirations of potential investors.

She said improving business competence on the local front will be in the national interest as potential investors are mostly turned off by the fact that the local environment is mostly inadequately prepared to consume the kind of investments and business ideas that those investors propose.

“There is the need to strengthen the critical areas of the economy to trigger socio-economic growth; and that’s why we need to invest in and empower local entrepreneurs to become more innovative to attract the needed investments.

“As government continues to encourage Ghanaian businesses to build capacity, it becomes pertinent to develop business opportunities where such capacities can be showcased and supported to excel to contribute to the growth of the economy

“If Ghana is able to generate the right kind of investments into the economy through successful and innovative local businesses, it will serve as the foundation for the country to develop its labour to meet international standards and also increase the interest in foreign investors,” she said.

Mrs. Trebarh said the GIPC, which is tasked with the responsibility of promoting investments in all sectors of the economy, will explore various business opportunities in the country and encourage upcoming entrepreneurs towards those areas to help create the much-needed jobs.

The National Entrepreneurial Seminar, on the theme “Building a more Entrepreneurial Economy” is scheduled for March 11 in Kumasi, is part of GIPC’s 2015 ‘Think Ghana Make it Happen’ campaign to tap, shape and develop business ideas in the interest of job creations and economic growth, and it is being organised in collaboration with the Youth Enterprise Support (YES) Secretariat.

The seminar is expected to pool together a broad suite of stakeholders in the business fraternity including successful local entrepreneurs who will discuss and shape the business ideas of participants, especially young entrepreneurs, to enable them start and sustain their respective ventures.

Mrs. Trebarh said the entrepreneurial seminar will create and pursue a national discussion on making the local economy more innovative, enterprising and sustainable.

Chief Executive of the Youth Enterprise Support Secretariat (YES), Ms. Hilda Boadi, said the seminar is appropriate as it will enable her outfit to identify innovative ideas to invest in.

“This is a seminar that will help up and coming entrepreneurs and young businesses to learn the techniques of building and sustaining a successful business.

“We believe that it is not just about giving money to people with ideas to start business; it is about mentoring and shaping the ideas of such prospective entrepreneurs to build enterprises that can impact positively on the national economy.

“Business sustainability is the key to economic growth and that is why the Secretariat is partnering the GIPC to organise this event to harness and mentor the business ideas that can be supported financially to support economic growth,” she said.