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Business News of Fri, 17 Feb 201712

Firms in C/R to enjoy tax holidays – Duncan

A proposal will be sent to President Nana Addo Dankwa Akufo-Addo to ensure that companies that are willing to invest in the Central Region on a large scale are given tax holidays, Kwamena Duncan, Central Regional Minister-designate, has said.

According to him, once more investors are attracted to the region, the rate of unemployment will be reduced drastically.

Speaking during his vetting by the Appointments Committee of Parliament on Thursday, 16 February, he said: “We will make a recommendation to His Excellency the President that if we could attract large-scale investment into the agricultural sector, probably we need to give some tax holidays for people who want to come and invest in the region. If that is done we will have the needed development.

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“If you take our way of development, it is based in Accra, Kumasi, and Takoradi, and that is what has been termed as triangular development. We (Central Region) are in the stomach of that triangle, we share borders in the north with Ashanti Region and Eastern Region, and then the west is Western Region and to the east, Greater Accra. Investors always look to where there is high purchasing capacity and then also income levels are quite good.

“Within our region, it is not like that so there must be a deliberate effort to direct investment in there. If you come to the region, you don't have local incentives. That is why we will do a representation to the president that we need to lift this region and others up. So if we could give investors some tax holidays, it will help.”

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