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21.11.2008 Business & Finance

Draft Investment Act Before Parliament

By Daily Guide

The Ghana Investment Promotion Centre (GIPC) is preparing to put before Parliament the revised GIPC Act; Ghana Investment Council Act 2008, specifically designed to empower indigenous Ghanaians to take advantage of emerging economic opportunities in different sectors of the economy.

The Ghana Investment Council Act 2008 lays specific emphasis on the empowerment of Ghanaians in sectors such as oil and gas, trading, and certain aspects of the distribution of imported products.

Information released by GIPC recently indicate that the Act when passed will give local people a more active and rewarding role in Ghana's economy.

The centre has also noted that the negative list being developed delineates activities reserved for individual Ghanaians and majority-owned Ghanaian companies.

Furthermore, it is tailored to ensure Ghanaians play an increasingly prominent role in our economy and stimulate the effective development of indigenous capabilities.

GIPC is a government agency re-established under the GIPC Act 1994 (Act 478) mandated to encourage, promote and facilitate investment in the all sectors of the Ghanaian economy, with the exception of mining, petroleum, free zone activities and the privatization of Government entities.

By Samuel Boadi