Ghana Investment Promotion Centre (GIPC) is setting up a database of investment opportunities and investible assets in the country.
It will be made available to both investors and potential investors to enable them to make informed investment decisions on Ghana. It will also provide the market value of projects.
The Chief Executive Officer of GIPC, Mr Yofi Grant, disclosed this yesterday to the Daily Graphic in an interview. He had earlier held separate meetings with the ambassadors from Algeria, the Netherlands and Denmark last week.
“We are further expanding our footprints and presence by going out to market the Ghana opportunity to many other countries,” adding: “This and more we intend to complete by the close of next year.”
Ease of doing business
With regard to the ease of doing business in the country, Mr Grant said work was underway to use technology to reduce the period in processing of documents for business registration.
“We are using technology to connect all agencies into an interoperable network, that is we will have a true ‘one-stop shop,” he stated.
Mr Grant said for instance that an investor who wanted to register a business had to “run to four or five agencies at the Registrar-General’s Department, GIPC, Bank of Ghana (for companies with foreign shareholding), Ghana Standards Board, Environmental Protection Agency among others”.
The long and tedious processes, he said, had proved extremely costly to investors and potential Ghanaian businesses, and that needed to be resolved to make it easier for people to register their businesses.
Subsequently, he said work was being done to have aspects of the GIPC law reviewed.
He expressed optimism that by the end of next year, much would have been achieved in that regard.
Mr Grant said the intention of the government was to make the private sector thrive.
Discussions
Explaining aspects of the discussions with the ambassadors, he noted that there was an exchange of ideas on how to encourage trade and investments among the respective countries.
He said the envoys sought further clarifications on the government’s programmes such as the ‘one district, one factory’, ‘one village, one dam’ among others.
Mr Grant said there would be further discussions to ensure that Ghana established stronger business ties with other countries.
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