Central region

GIPC is conducting a business awareness campaign in the central region

Gipc campaign

The Ghana Investment Promotion Center (GIPC) organized a Business Investment Forum in the Central Region to promote local indigenous businesses and stimulate investment in the region.

Participants including traditional authorities, business people and key personnel from the various Metropolitan, Municipal and District Assemblies (MMDAs) were enlightened on the role of the GIPC and how to partner with them.
The forum was part of the Centre’s nationwide campaign ‘Grow in Ghana, Grow with Ghana’, designed to meet the local content requirement of its business advocacy mandate.

The event sensitized individuals and businesses to the untapped economic opportunities in the region and facilitated synergies between different stakeholders in the wake of the African Continental Free Trade Area (AfCFTA) and in line with the transformation agenda of the region.

The Center has opened a mini business clinic to offer support to people with viable business ideas.
Dr. George Asafo-Agyei, Monitoring and Evaluation Officer, GIPC has identified agribusiness, manufacturing and tourism as key areas for investment and promotion in the region.

He said the region is endowed with many fruits that could be processed into various products to generate income and create jobs.

However, he observed that land unavailability and land dispute issues were major challenges stifling economic growth in the region.

Dr. Asafo-Agyei, therefore, urged traditional authorities and families to make land available for investment and strive to take shares in such investment.

“Why can’t we make land available for some of these activities? When these things continue, we deprive our own people of the jobs they desperately need,” he said.

Dr. Asafo-Agyei said that with the advent of the AfCFTA, there was a need for the country to accelerate its industrialization agenda or be caught out when the policy is fully rolled out.

He said the central region has a competitive advantage in many areas and could be the mainstay if the right environment is created.

He further encouraged companies to prepare for investments and partnerships as this was the development trend.

Dr. George Asafo-Agyei urged citizens to consume locally made products to help stabilize the economy and generate wealth internally.

“We need to ensure that our import substitution program materializes. It is important that we do this well and that we are aware that the more we import, the richer they get and the more our currency depreciates,” he warned.
He said that although it was not compulsory for Ghanaian businesses to register with the GIPC, it was essential that they do so to benefit from all the essential services provided.

He observed that only 154 projects in the region had been registered with the GIPC since 1994 and only four in the last three years, saying they were insufficient.

“It is important to register with the GIPC because we offer many incentives. The government is ready to support you. You are not fighting for your documents,” he revealed.

Ms. Justina Marigold Assan, the Central Regional Minister, urged all MMDAs to develop investment and development plans and articulate them clearly for the growth of their local business ventures.

“Local businessmen and women are important, as their activities generate wealth for MMDAs, the region and the country as a whole,” she stressed.

Addressing the AfCFTA, she said the policy creates a major opportunity to help diversify African exports, attract foreign direct investment and accelerate growth as the world grapples with the effects of the COVID-19 pandemic.

She said the business profiles and catalog of projects that would result from the GIPC business tour of the region would form the basis for meetings on the continent for “unifying and rewarding business relationships and partnerships.”

“One of the main outputs of this program will be land banks, district investor guides and project profiles. These are crucial tools to help attract investment and make Ghana the preferred location for foreign direct investment” , she added.

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