The Ghana Investment Promotion Centre (GIPC) says ongoing infrastructure development, improved market linkages and increased investor awareness are key measures being pursued to address challenges limiting investment opportunities in Ghana’s regions.
The Deputy Chief Executive Officer of GIPC, Razak Baba, made the statement during the Bono East Regional Investment Roadshow held at the Bono East Regional Coordinating Council Conference Hall, where stakeholders discussed investment opportunities and challenges affecting the region.
Mr. Baba said infrastructure deficits, weak connections between producers and investors, and limited visibility of regional opportunities have been major barriers to attracting investments outside Accra.
According to him, government’s ongoing infrastructure projects under the Big Push program are part of efforts to create a more favourable environment for businesses and investors across the country.
He added that GIPC is also working to strengthen business linkages by identifying local producers and connecting them with potential investors seeking reliable sources of raw materials.
“The government is embarking on a huge infrastructure overhaul, and we can all see it for ourselves. The Big Push is everywhere. What GIPC is trying to do is create those linkages where we identify these potential suppliers, potential investors and then match them with one another.” He stated.
Razak Baba explained that improving these connections would enable local producers to access better markets while helping investors identify viable opportunities in the regions.
In line with this agenda, the Bono East Regional Minister, Hon. Francis Owusu Antwi, said ongoing road projects in the region are expected to improve accessibility, support tourism development and enhance investment opportunities.
He said contractors are currently working on roads in Nkoranza North and other districts as part of efforts to improve infrastructure and open up more areas for economic activities.
“Touching on the road infrastructure in the region, I can assure you that we have contractors on site at Nkoranza North and other districts to help improve tourism activities in the region.” He said.
The Minister said improved road networks would not only support tourism but also enhance the movement of agricultural produce and attract investors into key sectors of the regional economy.
He further disclosed that government has introduced measures to improve market access for farmers through the deployment of aggregators to purchase produce for the National Food Buffer Stock Company.
“As we speak, H.E. John Dramani Mahama has provided us with two aggregators in the region to buy produce from farmers in the region who want to sell to the Buffer Stock.” Hon. Owusu Antwi said.
He explained that he had held consultations with the various Metropolitan, Municipal and District Chief Executives (MMDCEs) and Directors of Agriculture in the region to establish farmgate prices for produce supplied to the Buffer Stock.
“I have held consultative meetings with the various MMDCEs and Agriculture Directors in the region, and we have set a farmgate price for the purchasing of farm produce to the Buffer Stock,” he added.
The interventions form part of broader efforts by GIPC and the Bono East Regional Coordinating Council to create conditions that will encourage more investors to explore opportunities in the region.
Also speaking at the roadshow, the Ashanti Regional Manager of the Ghana Free Zones Authority (GFZA), Samed Akalilu, said government has introduced attractive incentives to encourage businesses to establish export-oriented industries in Ghana.
He explained that the Ghana Free Zones Authority licenses businesses to manufacture and export products to international markets under a package of tax and customs incentives.
“Businesses that obtain value-added manufacturing licences from the Ghana Free Zones Authority are given a ten-year tax holiday. They are exempted from paying export duties as well as import duties on raw materials imported for the purpose of production.” Mr. Akalilu said.
He added that registered companies operating under the Free Zones program are also exempted from paying Corporate Income Tax, making the scheme more attractive to investors.
“These incentives have been provided by the government to enable businesses to expand, employ more people and encourage exports to improve the country’s foreign exchange earnings.” He stated.
The Bono East Regional Investment Roadshow, which forms part of GIPC’s strategy to promote investment beyond Accra, is aimed at showcasing the region’s investment potential and addressing concerns affecting investors and local producers.
The initiative has already covered the Bono Region and Bono East Region, with the Ahafo Region scheduled as the next destination.
Source: Newspyramid.com
