Foreign Investors Urged To Take Advantage Of Economic Stability

The Deputy Minister of Trade and Industry, Mr Joseph Samuel Annan, has urged foreign investors to take advantage of the stability of the economy to do business and invest in the country.

The economy, he said, hosted several large companies and airlines while other large companies have started relocating their regional offices to the country coupled with the production of oil in large quantities in the country.

Mr Annan made the appeal at the “Doing business in Ghana” conference which was organised by the delegation of the German industry and commerce in Ghana (AHK).

The deputy minister noted that government was also currently undertaking initiatives and policies that would boost economic growth.

“In promoting agriculture, government is putting in measures to secure a large scale plantation and irrigation system, increasing the processing of cocoa beans, starting processing grains into value added products, improving technology and services as well as increasing the production of cotton in the three northern regions,” he said.

He also assured investors that any change in power after the general elections in December 2012 would not affect investments and urged them to continue with their investments as business would still continue.

“Let me take this opportunity to assure all our investors that there will be continuity of investments even if there is change in power and business will thus go on as usual,” he said.

He also commended the German delegation for their massive contribution to the economy through their investments in the previous years.

The Director of Investment Services at the Ghana Investment Promotion Centre (GIPC), Mr Augustine Otoo, mentioned the agriculture, infrastructure, oil and gas, energy, manufacturing, Information Communication Technology, financial services, education, health and tourism sectors to the gathering as the areas of priority for investments in the country.

He said investments in these various sectors guarantees the investor some incentives which includes custom duties exemptions for plant, machinery, equipments and parts, reasonable corporate taxes and tax holidays ranging from five to 10 years depending on the sectors among others.