GIPC, World Bank formulate Corporate Investment Promotion Strategy to support investors, attract high-quality investments
The Ghana Investment Promotion Centre (GIPC) with assistance from the World Bank has developed the Corporate Investment Promotion Strategy and Business Plan for businesses wanting to invest in the country.
The Corporate Investment Promotion Strategy and Business Plan according to the Chief Executive Officer for the GIPC, Yofi Grant, is to enhance support for investors and attract high-quality, sustainable investments to Ghana.
Making the assertion during the GIPC’s Economic Counsellors’ Dialogue on the theme “Navigating the Changing Landscape of International Investment Agreements” on Tuesday, April 30, 2024, Mr Grant quipped the Corporate Investment Promotion Strategy and Business Plan will aid the GIPC define and optimize its partnerships with investors, strengthen its advocacy for investment climate reforms, adapt and expand its activities to provide relevant and comprehensive services to investors, among other objectives.
Speaking further at the Economic Counsellors’ Dialogue, Mr Grant averred doing business in Ghana presents a dynamic and promising environment for investors marked by a vibrant economy and a government committed to promoting a conducive business climate.
Adding that, a stable political landscape and recent investments in infrastructure have enhanced connectivity and logistics in the country.
“Rich natural resources, including oil, gold, and cocoa, offer lucrative opportunities across sectors complemented with a youthful and skilled workforce. The growing middle class also presents a burgeoning consumer market.
“Ghana has consistently ranked high in various global indices measuring ease of doing business, reflecting the country’s dedication to reforms and improvement,” he posited.
Touching on International Investment Agreements and its relevance, Mr Grant averred International investment agreements (IIAs) play a vital role in shaping global economic interactions by establishing frameworks to govern foreign investments between countries.
He noted that these agreements are designed to promote and protect investment flows across borders, providing a predictable and stable environment for investors.
IIAs typically include provisions related to investment protection, dispute settlement mechanisms, and facilitation of investment activities.
“The impact of IIAs on global economies is significant, as they contribute to promoting economic growth, encouraging foreign direct investment (FDI), creating employment opportunities, and transferring technology and know-how.
“By offering legal certainty and protection to investors, IIAs help mitigate risks associated with investing in foreign markets, thus attracting more capital inflows.
“Additionally, these agreements can enhance competition, drive innovation, and stimulate productivity improvements in host countries like Ghana, leading to broader economic benefits,” he posited.
