The Ghana Investment Promotion Centre (GIPC) is in the process of soliciting views and ideas from the diplomatic community and foreign business associations towards the review of the current GIPC Act 2013.
The event forms part of a series of strategic stakeholder’s engagement, the GIPC has scheduled for the year to solicit views on ways to make the Ghanaian business environment most competitive among its peers through legislation.
Mr Yofi Grant, the Chief Executive Officer, GIPC was speaking at the 2017 edition of the Economic Counsellors Dialogue with Foreign Missions and Business Associations in Ghana on the GIPC Act and possible collaboration with the Centre.
“We will be reviewing the GIPC law to make ourselves more attractive and competitive on the global investment horizon. The impact would be significant, because we want to attract the biggest companies globally to come to Ghana to do business,” he added.
The Dialogue an initiative of the GIPC to attract Foreign Direct Investment was on the theme: “Ghana on the Go: Enhancing the Ghanaian Business Environment.”
The GIPC Act 2013, (Act 865) was enacted to phase out and replace the previous GIPC Act 1994 (Act 478).
He said to make Ghana the best place to do business, the country needed to create a good business environment to promote investment opportunities.
He said Ghana being a signatory to the Trade Facilitation Agreement and because of the some of the things the Centre had done, there was an improvement in trade relations with other countries.
“We at GIPC are looking at other measures to attract the investor community and business to invest in the country and also address some of the challenges that face business growth in Ghana.
“We are constantly engaging with the investor public, foreign missions and with local business people to see how best we can make this country investment and business-friendly,” he added.
He said it was imperative for Ghana to reposition itself in a way that it could still play the leading role in the renaissance in the African economy and serve as regional hub and also open up the business environment for investors.
The event brought together members of the Diplomatic Community including Commissioners, Ambassadors and Trade Counsellors as well as Heads of Foreign Business Associations in Ghana to dialogue on measures to enhance the Ghanaian business environment.