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Business News Fri, 19 Aug 2016

Ghana offers relaxations for Pakistani investors

The Ambassador of Ghana to Pakistan, Alhaji Bawah G Ayembillah, on Wednesday said Pakistani investors should look into the opportunities being offered by rapidly developing African country of Ghana.

The ambassador said this while talking to first-ever mayor of Islamabad, Sheikh Ansar Aziz. The Council General of Ghana in Pakistan, Shahid Rasheed Butt, was also present on the occasion.

Ghana was offering matchless benefits to foreign investors where growth rate was 7.3 percent in 2013 and now it was six percent while foreign investors were absolved of tax and land for agriculture, which was being offered free of cost for commercial farming, he said.

He informed that Ghana, which is a country with population of 27 million, attracted foreign investment of $ 4 billion and it enjoyed 71st position in the index of economic freedom while the government is trying best to further improve the situation.

The local and foreign investors enjoy similar benefits in the African nation, which include repatriation of profits, while Pakistani investors are being given more relaxations, he said.

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The Pakistani investors who have already invested in Ghana have been enjoying good profits and they are expanding their business in Ghana because it is a stable country where democracy is working well since 1992, the ambassador said.

He said the number of poor in Ghana has declined by 50 percent while situation is getting better, according to international observers adding that 20 commercial banks are operating in Ghana providing facilities to local and foreign investors on the directives of the government.

Shahid Rasheed Butt congratulated Sheikh Ansar Aziz on becoming the first-ever mayor of the Pakistan's capital city while Aziz welcomed the relaxations offered by Ghana.

The exports of Pakistani markets are saturated, which has an impact on exports, therefore, new markets like Africa should be explored, he said.

He said the business community should try to get benefit from opportunities in Ghana adding that he will try his best to serve masses and the business community of Islamabad.

Source: dailytimes.com
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