The Ghana Investment Promotion Centre (GIPC) in collaboration with the American Chamber of Commerce – Ghana (AmCham Ghana) and the Ghana Embassy in Washington DC, embarked a just ended ten-day investment promotion mission to the United States of America from 11 th – 20th June, 2017.
The 35 member strong delegation, led by Mr. Yofi Grant, CEO of the GIPC, attended the Corporate Council of Africa’s 11th Biennial US-Africa Business Summit in Washington DC from 13th to 16th June. During the Summit, the GIPC hosted a Doing Business in Ghana Session themed Ghana, Open for Business; Opportunities and Partnerships on 15th June to showcase specific investment potentials to high level business leaders and financiers.
A Diaspora Seminar was also hosted by the Centre in collaboration with the Ghana Embassy in Washington on Friday 16th June with the purpose of creating awareness of efforts being made by the government to improve the Ghanaian business environment as well as showcase existing investment potentials. On the 19th of June, another business session focussed on Ghana was held in Philadelphia in collaboration with the US Department of Commerce and Chamber of Commerce in Philadelphia.
The exclusive session focused on B2Bs and building partnerships with top business executives operating in Philadelphia. The GIPC organised Investment Promotion Mission to USA had the objective to showcase specific investment potentials in Ghana and support local private sector players in their search for international business partners and deepen growing levels of trade and investment between Ghana and USA.
The USA has between September 1994 to March 2017 registered a total of 345 projects valued at over USD$ 4.5 billion in Ghana. The major sectors of interest of these companies registered with the GIPC are services, manufacturing and tourism.
GIPC stakeholder events and missions are part of the Centre’s strategy to showcase the Ghanaian private sector and introduce them to various local and international business platforms.
In a related development, prior to his departure to the US, the CEO of GIPC, Mr. Grant met with key members of the Ghana Union of Traders Association (GUTA) as part of the Centre’s effort to gather feedback from its key stakeholders on aspects of the GIPC Act 2013 (Act 865) currently being considered for review.
The meeting, held in a co-operative atmosphere, had the two parties engage in fruitful deliberations on issues that boarded on incentives and support for local businesses. Mr. Grant, reiterated the Presidents words of governments focus on a Ghana built by Ghanaians for Ghanaians, with
mutually beneficial partnerships.
He also stated that Ghanaian enterprise must be supported to truly take the commanding heights of the economy, with a bigger focus on value added and production for Ghana to become the
business hub of West Africa.
The Ghana Investment Promotion Centre (GIPC) is a government agency, responsible under the GIPC Act, 2013 (Act 865) to encourage and promote investments in Ghana, provide for the creation of an attractive incentive framework and a transparent, predictable and facilitating environment for investments in Ghana. Functions of the GIPC under the Act are:
formulate investment promotion policies and plans, promotional incentives and marketing strategies to attract foreign and local investments in advanced technology industries and skill-intensive services which enjoy good export market prospects;
initiate and support measures that will enhance the investment climate in Ghana for both Ghanaian and non-Ghanaian enterprises;
initiate, organise and participate in promotional activities such as exhibitions, conferences and seminars for the stimulation of investments, to present Ghana as an ideal investment destination;
collect, collate analyse and disseminate information about investment opportunities and sources of
investment capital, incentives available to investors, the investment climate and advise upon request on the availability, choice or suitability of partners in joint venture projects;
register, monitor and keep records of all enterprises in Ghana;
register and keep records of all technology transfer agreements;
identify specific projects and prepare project profiles on investments and joint venture opportunities in Ghana and attract interested investors for participation in those projects;
bring about harmonisation in investment policy formulation through coordination of the activities of all other institutions and agencies; and
perform any other functions that are necessary for the attainment of the object of Act 865.
By: Emmanuel Nii Afra Quakupong Sackey/gasfmonline.com/Ghana