Legislative Reforms to Boost Foreign Investment in Ghana

The Ghana Investment Promotion Centre (GIPC) is confident that its ongoing legislative reforms will effectively address barriers that hinder foreign investor confidence in the country.

The GIPC has identified several challenges, particularly in obtaining necessary documentation from the Customs Division of the Ghana Revenue Authority (GRA), and has pointed out inadequate collaboration among government and customs officials as a significant concern for foreign businesses, impacting their operations in Ghana.

During his opening remarks at a stakeholder forum on customs controls and regulations, Yaw Amoateng Afriyie, Deputy Chief Executive Officer of GIPC, emphasised the Centre’s commitment to tackling these challenges to foster the growth of foreign businesses in the country.

“We believe that the efforts being put in by customs, including the digital customs and e-commerce platforms, will hopefully be enablers for this business community. For us at GIPC, we are in a place where we have to reform and align with the current efforts being made to address some of the more dogmatic elements within our current legislation,” Afriyie stated.

He further explained, “We are not doing this because it is easy, but because it is necessary, especially given the local and global backdrop which is impeding capital flow to our part of the world. GIPC, as the leading agency for investment and business in Ghana, must set the right course by continuously removing bottlenecks that impede business operations and capital flow.”

The GIPC’s focus on legislative reforms aims to streamline processes, improve efficiency, and enhance the overall business climate in Ghana, making it more attractive for foreign investors.