Ghana is encouraging foreign businesses to invest in its country, according to the African country’s mission to the United Nations, which recently organised an investment forum to mark Ghana’s 59 years of independence.
Minister for Private Sector Development, Dr Abdul Rashid Pelpuo detailed the country’s wealth of natural resources including timber, supportive investment laws and socio-economic stability as advantages for potential investors. Mrs Mawuena Trebarh, CEO of the Ghana Investment and Promotions Centre (GIPC), said procedures for setting up businesses in Ghana were straightforward.
“As part of our strategy for 2016, the GIPC will focus on improving its operational efficiency, provide higher level services and roll out the second phase of our ‘Think Ghana Make it Happen’ campaign with the target of propelling Ghana to become the preferred investment destination in Africa,” said a spokesperson from GIPC.
Foreign Direct Investment (FDI) inflows to Ghana rose in 2015 after two years of implementing the new investment law, the GIPC Act, 2013 (Act 865).
Highlights of recorded investments have been published by the GIPC and show that 170 projects had been registered worth an estimated US$2.68 billion in 2015. The potential for job creation from registered projects in 2015 was 14,948, a 14% YoY increase.