GIPC 2013 law has outlived its usefulness - Former Deputy Trade Minister

Former Deputy Minister of Trade and Industry, Robert Ahomka-Lindsay, has professed that the Ghana Investment Promotion Center (GIPC) 2013 law needs to be reviewed because it has outlived its purpose.

The GIPC 2013 law [Act 271] prevents foreigners from engaging in some trade or enterprises reserved for Ghanaians.

However, foreigners with the help of some Ghanaians end up trading in goods and services secured for locals.

Speaking on this growing development on Citi TV's The Point of View programme, Mr Ahomka-Lindsay said this gap created is because Ghanaians are open to anything and do not know what they want.

He cited America, China, Asia as some countries that know their trade needs and act accordingly.

Mr Ahomka-Lindsay said, “To be honest with you, the GIPC 2013 law has outlived its usefulness and needs to be reviewed.”

“Part of the challenge we have is that, we have not defined very clearly what we want, and reflected our laws and regulations to them. The Chinese, Americans, and Asians know what they want, and when they don’t get it, they close the border. If we as Ghanaians say that we want bread producers because we can’t do it, I don’t believe we lack the capacity to manufacture all the inputs to consume bread in Ghana. We have lots of cocoa beans which we don’t know how to process, so let’s get FDI to come and set up a processing factory in Ghana,” he stated.

The former deputy trade minister said government must rather partner foreign investors to process Ghanaian products.

This, he said, will help Ghana look more competitive on the international market.

It has been reported that a Chinese company baking bread has been established along the abbatoir exit on the Tema motorway.

Many have raised eyebrows since the news broke.

Several people have also taken to social media to register their displeasure.

SA/NOQ

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