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Business News of Friday, 26 July 2013

Source: GNA

Gov't to create enabling environment for investors

Mr Haruna Iddrisu, Minister of Trade and Industry, on Thursday reiterated Government’s commitment to creating an enabling environment for investors.

He said this is necessary to boost the confidence of foreign investors interested to invest in Ghana.

Mr Iddrisu was addressing a 36-member Japanese Business Mission in Ghana to explore investment opportunities.

The mission, from 23 companies and organisations, is led by Mr Haruki Hayashi, President, Japanese Chamber of Commerce and Industry in the United Kingdom.

Mr Iddrisu said President Mahama’s policy direction was to strongly build and promote Public Private Partnership (PPP) in the execution of projects in the country.

The minister said Ghana’s annual economic growth of six per cent should spur investors’ on to participate in various projects.

Besides, government has tax incentives up to two years for companies that invest in the Agro-processing sector.

Mr Iddrisu said there were many opportunities in the agricultural sector and that Government was ready to facilitate the acquisition of land for investors to go into that sector.

“President Mahama has directed the Ministry of Trade and Industry to establish Industrial Parks around the country, which the Ministry has started in Tamale, in the Northern Region and Sekondi in the Western Region”.

In addition, he said, there were opportunities in the energy sector as the country has plans to increase power generation up to 5000 megawatts by 2015 and to expand electricity to the rural areas.

Mr Iddrisu said the Mission’s visit was a sign of Japan’s confidence in Ghana.

Mr Naoto Nikai, Japanese Ambassador to Ghana, said the Japanese Government and business community were interested in the promotion of PPP between both countries.

He said the visit was a demonstration that the bilateral and diplomatic relations between the two countries are yielding dividends.

Mr Naoto expressed the hope that the cordial relationship would reflect in the development of both countries.

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