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08.05.2006 Business & Finance

New land tenure system to promote investment

By GNA

Anaji (W/R), May 07, GNA - The National House of Chiefs would soon evolve a national land tenure system to eliminate dishonesty and other problems that exist in land acquisition in the country. Odeneho Gyapong Ababio II, the President of the house, said problems associated with land acquisition continued to thwart efforts to encourage both local and foreign investors and this had been detrimental to some economic policies of the government.

He said this at the commissioning of the Nalex Service Complex of the Nalex Group of Companies at Anaji and Windy Ridge both suburbs of Takoradi on Saturday.

Nalex, which operates a restaurant, drinking bar, cafeteria and also hiring of canopies, chairs and tables, has included a seven-room hotel and an ICT facility at Windy Ridge and Anaji respectively. Odeneho Gyapong Ababio said chiefs and other landowners must support government policy to enhance private sector growth. He said the new land tenure system would complement government programmes to encourage private sector investment and deal effectively with vices in land acquisition including fraud and multiple sales of land.

Odeneho Gyapong Ababio commended Mr Alex Ampiah, the Chief Executive Officer of Nalex, for his vision that had resulted in the creation of jobs for many young people.

Mr Ampiah said he was encouraged by the prudent economic policies of the government including the reduction in corporate tax and lending rates to realise his vision.

He said Nalex Hotel would be expanded before the CAN 2008 tournament to provide accommodation for soccer fans who would travel to the Sekondi-Takoradi Metropolis.

Mr Ampiah expressed hope that the government would continue to create more favourable conditions to promote private sector investment. Mr Michael Kpingbi of the Ghana Tourist Board said all hotels in the Sekondi-Takoradi have only a total of 361 decent accommodation for visitors and urged more people to invest in the sector. Mr Edwin Philips, the Presiding Member of the Shama Ahanta East Metropolitan Assembly, said the assembly would support groups and individuals who would invest in any sector to generate employment.

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