Investment code will attract foreign aid

The Minister for Trade and Industry, Mrs Emma Mitchell has declared that the nation's investment code provides wider concessions designed to attract foreign capital and guarantee reparation of profits.

In a speech read on her behalf at the silver jubilee anniversary of Alcatel Kabelmetal, Mrs Mitchell said that to ensure that the industrial sector confronts head-on the challenges and opportunities in an ever-increasing competitive global market, the government has committed itself to providing adequate financial support to distressed but potentially viable enterprises. The other significant measure to sustain private development, she said, is the establishment of the Private Enterprise Foundation (PEF) whose objective is to exert greater influence on policy initiatives for furthering the enabling environment n which private business can thrive.

Mrs Mitchell said the government was paying constant attention to tariffs, duties, taxes and other inputs which undermine the growth of private industry particularly those engaged in finished goods to enhance conditions for private sector development. - GNA