Business News of Friday, 4 August 2017
The Chief Executive Officer (CEO) of Ghana Investment Promotion Centre, (GIPC), Yofi Grant, says government has re-position itself as the best country of doing business in the West Africa region.
Mr. Grant said the GIPC has engaged in putting together an integrated transportation system of railway, road, water and air to connect the sub region to enable free movement of goods and people.
Speaking at a breakfast meeting with captains of CEOs in Accra, Mr. Grant said the Centre has put in place a number of reforms with stakeholders to open up space for foreign and local businesses to come and invest in the country.
He said the country is working assiduously to upgrade its industrial infrastructure by attracting opportunity for those who want to invest in the manufacturing sector.
He said government has also put in place attractive incentives for investors.
The GIPC Boss said the Centre is initiating plans to reduce the level of human interface, and that it will introduce electronic systems to facilitate the processes and reduce the processes in registrations.
He said the country could generate more than 5 billion dollars annual contribution from the diaspora with the right engagements, urging foreign nationals to register their businesses from their respective locations instead of travelling to Ghana.
According to a report by RMB Global Markets Research, Ghana has emerged fourth of the foreign direct investment league table, among the top 10 countries in Africa.
The Director, Financial Sector Division at the Ministry of Finance, Sampson Akligoh, said the 2017 budget statement on tax exemptions, is to reduce taxes and enhance production as well as tackle system abuse in the exemptions regime.
He said government has put in place comprehensive review of the regime on import duty exemptions and tax reliefs with a view to eliminate abuses and improve efficiency in the application of these incentives.