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Regional News of Thursday, 21 September 2006

Source: GNA

B/A is yet to make an impact

Sunyani, Sept. 21, GNA - Brong Ahafo region is yet to make a significant impact under the Investment Act (Act 475) since its implementation 12 years ago in spite of its enormous natural resources.

The region has so far registered 13 projects, representing 0.63 per cent making it one of the regions with less than one per cent investment projects together with Northern, Upper East and West regions under the Act.

Mr Peter Ankrah, Director of Ghana Investment Promotion Centre (GIPC) announced this at a day's seminar organised by the GIPC in collaboration with the Ghana Free Zones Board and Brong Ahafo Regional Co-ordinating Council.

It was attended by entrepreneurs, traditional rulers, private sector, and Ghana Tourist Board.

The seminar the seventh to be organised was to reach out to business communities in the regions and sensitise Metropolitan, Municipal and District Assemblies about GIPC's investment promotions, functions and roles of the assemblies to attract private investors. In addition, it was to educate the public, especially local investors and prospective investors in the region, on investments regulation procedures, incentives and general policy direction of the Government.

Mr Ankrah said the seminars educate the participants on new tourism promotion laws; establish contacts with individuals and organisations in the regions to facilitate GIPC's follow up plans as well as providing a platform for the exchange of issues affecting the business communities. He noted that lack of free flow of information from the region to GIPC on investment opportunities had contributed to the low percentage recorded and urged entrepreneurs in the region to develop ideas on how to attract investors.

Mr Ankrah assured the participants of GIPC's support to promote investment potentials in the region.

Mr Ignatius Baffour-Awuah, Brong Ahafo Regional Minister, said the seminar was timely as the Brong Ahafo Regional Co-ordinating Council had plans to embark on an investment trip to China and Malaysia in November this year to explore investment avenues for the region. He expressed concern about previous seminars that ended up being talk shops and urged participants to impart the knowledge they had acquired to their colleagues.

Mr Baffour-Awuah appealed to them to save money for investments that would create job opportunities for the youth but not to invest in frivolous projects such as funerals and other social activities.

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