News Headlines

National Web Based Product Gallery Launched

The Ministry of Trade and Industry has launched a National Web Based Product Gallery (ghanatrade.gov.gh) in Accra aimed at enhancing the businesses of Micro Small and Medium Enterprises (MSME) in the country.

The National Web-Based Product Gallery which was developed with assistance from the World Bank would seek to provide detailed and reliable products and company information of participating firms across the country.

GIPC CEO lobbies investors abroad, outdoors her "New-Ghana agenda"

Chief Executive Officer of the Ghana Investment Promotion Centre, (GIPC) Mawuena Trebah, has launched a strong lobbyist strategy to woo investors on her first international investment tour abroad.

Mrs. Dumor Trebah is promoting her new-Ghana agenda to potential investors in the United States, United Kingdom and France. According to her, reforms undertaken by the GIPC aims at re-branding in order to attract and sustain investments to renew confidence in the economy.

She argued that Ghana is a preferred business destination for investment because any investment is premised on political stability which Ghana can boast of.

"Across investment public worldwide, investment decisions are based on political stability, infrastructure, and availability of job skills. All these relevant factors that determine how robust your regulatory frame work will be, the economics of the country as well as fiscal and tax regimes exist all are in place in Ghana", she emphasized.

The GIPC CEO Acknowledged investors' fear during elections, but assured the investing public there was no cause for alarm.

"Many investors would make a conscious decision to hold on until after elections are over, due to uncertainty about regulators and policies. But that is not something you need to guard against" {as far as Ghana is concerned}.

She also held discussions with foreign firms to assist the country with technology transfer and local skill development.

Speaking in an interview with Reuters, Mrs. Trebarh said while looking to benefit from technology transfer and local skills development, the GIPC is committed to ensuring that any partnership is mutually beneficial.

Source: myjoyonline.com

GIPC To Woo International Investors

The new Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mawuena Trebarh is seeking strategic investment opportunities in the country's quest to solve the current power crisis.

She is currently on her first international investment promotion tour in the United States, United Kingdom and France to promote her new-Ghana agenda to potential investors.

Mrs Trebah told Joy News her outfit will ensure a win-win situation between foreign investors and the country taking into consideration technology transfer and local skills development among others.

She indicated that efforts are being made by government through power providers to ensure that enough power is generated to meet demand.

"We have the luxury now of having the International investor communities recognize that if they are seeking an opportunity for the first time on the African continent the first test case may potentially be in Ghana" she said.

Source: Myjoyonline

GIPC To Punish Tax Evading Companies

The Ghana Investment Promotion Council (GIPC)is putting in place measures to track operations of foreign firms in the country to ensure that the country's tax law is respected.

The measures would cure the status quo where many foreign firms change ownership, and at times operating names after five years of operation in Ghana. Most companies resort to this canny way to evade tax when the tax holiday granted them expired.

This behavior contributes to revenue lost to the state; it also makes mockery of the country's laws.

Chief executive officer of GIPC, Mawuena Trebah said firms caught engaging in such a nefarious activity will be sanctioned by the state if found culpable.

She was speaking to Joy News's Elton John Brobbey on a variety of issues ahead of the annual Dubai Investment Forum that the country cannot sacrifice its laws to the advantage of foreign firms.

"I have zero tolerance for disregard for our rules and regulations," she said, adding that she will personally be involved in monitoring and tracking such companies.

Source: myjoyonline.com

Foreign Coys To Establish Presence

Ghana's business-friendly environment coupled with some buoyant economic activities and other solid macroeconomic fundamentals seems to be paying dividends as a large number of major international companies will in the next two to three months establish their presence in the country.

Chief Executive Officer of the Ghana Investment Promotion Center (GIPC), Mrs Mawuena Trebarh, who disclosed this in an interview, also revealed that the companies will set up base in the areas of Financial Service, Private Equity Market, Agribusiness, Manufacturing, Power and Infrastructure.

"...within the next two to three months, you will see quite a number of major international companies coming into the country......these are big multi-national firms that are already making their fourth and fifth reviews of potential investment (in Ghana)...," she said.

She was speaking to Nana Kwadwo Asante of Peacefmonline.com on a variety of issues on the eve of the Annual Investment Meeting (AIM) in Dubai, UAE.

The ultimate goal of the AIM Conference is to provide the audience through a series of keynote speeches and case studies, a realistic insight on Foreign Direct Investment (FDI) and an in-depth review of investment opportunities arising from economically resilient markets.

According to Mrs Trebarh, the GIPC will put up a stand at the Trade Fair with the focus on providing delegates and investors an opportunity to find out more about the local business environment and foster links with those companies playing active roles in the market.

The GIPC boss also touched on measures put in place by her outfit to ensure that foreign companies do not change ownership after a few years of operation in Ghana, thus abusing the country's tax laws by evading tax when the tax holiday granted them expires.

Expressing her abhorrence for "disregard for rules and regulations", Mrs Trebarh indicated her resolve with the collaborative efforts of other stakeholders, to monitor and track "investments and their applications".

Source: peacefmonline.com

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