Ghana: GIPC Engages Diplomatic Community On Promotion of Bilateral Investments

The Ghana Investment Promotion Centre (GIPC) has engaged the diplomatic community on how to promote bilateral investment and strengthen economic partnerships.

The 9th edition of the Economic Counsellors Dialogue event saw a gathering of key players from the various trade missions in Ghana, as well as representatives from the government agencies, such as the Ministry of Trade and Industry (MOTI) and Ministry of Foreign Affairs and Regional Integration.

The day’s discussions bordered on economic, investment strategies, as well as practical measures to accelerate economic recovery. Participants also looked at how the Centre can align its aftercare services to cater for the needs of investors.

In his opening remarks, the CEO of GIPC, Mr Yofi Grant, pointed out that the current global dispensation, characterised by political instability and post-pandemic struggles, had heightened the need for collaborations on several levels.

With the current world dynamics in focus, he argued that “there is no market much more important than the African market,” considering indicators such as population and natural resources.

Mr Grant mentioned that the government was undertaking several structural reforms to restore investor confidence in Ghana’s economy in order to reposition it as the ideal investment destination.

This, he said, included public financial management reforms, state-owned enterprises reforms, financial sector reforms, tax policy and administration reforms, and social protection reforms.

He also disclosed that the document to review the GIPC Act 2013, after extensive consultations, would be tabled before cabinet soon.

According to him, the changes proposed were in tandem with global investment laws, and are aimed to attract, and retain investments.

Taking his turn, the ambassador of Lebanon to Ghana, Maher Kheir, noted that economic partnerships were crucial, as they served as the backbone of global prosperity and stability.

To achieve economic integration, he argued that governments should prioritise open communication with a collaborative mindset, explore bilateral and multilateral trade agreements, invest in infrastructural development as well as education and skillset development.

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