Government to offer tax incentives for factories located outside Accra
The Deputy Minister of Finance, Thomas Ampem Nyarko, has announced that government will introduce tax incentives for companies and investors who set up factories outside the capital, Accra.
Speaking in Parliament on Tuesday, Mr Nyarko said the policy is part of a broader effort to decentralise industrial development and promote a more balanced distribution of economic opportunities across the country.
He explained that the overconcentration of industries in Accra has fueled rural-urban migration, congestion, and uneven development, adding that government is committed to reversing the trend by encouraging investment in other regions.
Mr Nyarko also stressed that government will rely on data-driven decision-making to ensure that incentives are properly targeted and effective in driving growth in less developed areas.
He made the comments while appearing before Parliament’s Committee on Economy and Development, alongside Dr Nii Moi Thompson, Chairman of the National Development Planning Commission.
Dr Thompson presented details of a long-term national development framework currently being prepared by the Commission.
He explained that the plan envisions balanced regional growth, with the establishment of industrial hubs in selected strategic locations to maximise local resources and create employment opportunities.
He further noted that the NDPC is working closely with relevant ministries and agencies to align sector policies with the country’s long-term development vision.
Mr Nyarko reiterated that the tax incentive programme will be designed to attract serious investors committed to sustainable operations, adding that government will closely monitor compliance to ensure beneficiaries contribute meaningfully to local economies.
He said the initiative is expected to ease pressure on infrastructure in Accra while stimulating development in other parts of the country, ultimately helping to reduce inequality and improve living standards.
He added that the policy goes beyond tax relief, focusing also on creating a conducive environment for business growth.
According to him, infrastructure expansion, improved access to credit, and skills development programmes will complement the incentives.