CEO of the Ghana Investment Promotion Center (GIPC), Yoofi Grant, has reiterated the government’s commitment to creating a conducive investment environment to boost economic activities and foreign investments.
He stressed the pivotal role investors play in driving the nation’s progress, emphasizing the government’s readiness to engage with international partners for mutual gain.
Despite grappling with significant economic challenges during the COVID-19 pandemic in 2020, Ghana witnessed encouraging Foreign Direct Investment (FDI) inflows in the initial quarter of 2021, surpassing figures from 2020 and 2019 for the same period.
During the first quarter of 2021, the country attracted an estimated investment totaling $719.97 million, with FDI reaching $682.19 million.
By the close of 2021, cumulative FDI soared to $1.88 billion, constituting about 3.3% of the nation’s Gross Domestic Product (GDP).
Speaking at the 2024 Economic Counsellors Dialogue series held in Accra, Mr. Grant addressed the dynamic global economic landscape.
He emphasized the significance of engaging with foreign missions to understand their contributions to Ghana’s economic progress.
“The changing landscape of global economics today, we all know that the world is not what it used to be 10 years ago so now, there’s a lot of room for new partners, new opportunities, and new challenges that we need to walk through, negotiate and come to mutual concerns on how you can benefit it. For us in Ghana, we want to do all these to benefit us, so our engagement with all foreign missions is still understanding; how they can play a role in Ghana’s economic growth, that’s our interest,” he said.
The Minister of Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, discussed the various government initiatives aimed at enhancing the business environment.
These initiatives include the digitization of the economy, including e-business registration, streamlined court clearance processes, digital address systems, mobile money interoperability, and national identity card systems.
“Ghana has put measures in place to ease burdens about doing business in Ghana through the provision of an enabling environment for the successful operation of investors through the digitalization of the Ghanaian economy through initiatives such as the e-business registration system, paperless court clearance system, digital addressing system, mobile money interoperability system, and a national identity card system among others,” she said.
Source: Adomonline