GIPC to eliminates bureaucracies

The Ghana Investment Promotion Centre (GIPC) has begun an initiative to eliminate excessive bureaucracy that tends to stifle investment growth and opportunities.

The move, according to the Center, would ensure that both Ghanaian and foreign investors go through the processes in establishing businesses in the country with ease.

Mawuena Trebarh, Chief Executive Officer (CEO) of GIPC, who made this known during a presentation at the UK-Ghana Trade & Investment Forum in London said “as investors, whether a Ghanaian or non-Ghanaian, come through with specific interests and projects, they are assured of personal guidance through the process in its entirety.

“So that the investor understands what their legal obligations are, what the regulatory obligations are and support them to develop a realistic roll-out plan.”

She stressed that improving incentives, reducing red tape and promoting greater flexibility in the business environment were key to stimulating investor confidence and business growth.

“Investment promotion now is extremely competitive and if we’re coming with our game as a country, what happens is that the competition will respond to the investor more efficiently.

“So what we are doing is to remain very close with the various sector ministries so that as investors come through with specific interests and specific projects we are able to hold the hand of the investor and walk him through the process in its entirety…that is what we mean by cutting away the red tape,” Mrs Trebarh said.

Touching on what she termed ‘Prosperity Partnership,’ Mrs Trebarh stated that “we must ensure that in the end the investment will protect not only the interest of the investor in terms of their profitability but will also translate into jobs, into new skills, into technology transfer, those things that will help us to progress as a nation.”

She said, “We must move away from being known as the country with the best cocoa. We must also be known as the country with the best chocolate.

“We must look at our tourism and hospitality sector…the pressure on our existing hospitality facilities has to be addressed. In the end, if it’s prosperity, it should be prosperity for all Ghanaians.”