Free Zones Authority making a mark in the int’l market with investment incentives
The Ghana Free Zones Authority is celebrating its 3rd Annual Investment Week 2022 themed, “GFZA- Championing export-led industrial growth; in the context of AFCFTA and world trade”.
The event which is held at their office on the first floor at West Wing had its CEO, Mr. Michael Oquaye Jnr, speaking on some packages or incentives the company has unveiled and others which are yet to also unveil in the coming days.
Mr. Michael Oqauye Jr stated, “With regards to the development of designated special economic Zones or SEZs under his leadership, GFZA has signed a Memorandum of Understanding(MOU) with a private developer to develop about 1500 acres of land in the Western Region area. Where the proposed investment estimated at about $200-300million is expected to provide World Class infrastructure which includes; Roads, electricity, a dedicated power plant, a sewage plant and among others.
Moving forward, he added that the project when completed will provide thousands of jobs and increase foreign exchange value for Ghana.
The site has been resurveyed and legal processes have been initiated to gazette the site as a free zone industrial area.
Mr. Michael acknowledged the enormous support of the President and some ministers to these projects.
Additionally, he added that their flagship Special Economic Zone(SEZ) which is the Tema Exporting Processing Zone(EPZ) has benefitted from the World Bank Ghana economic transformation project which provided funding for rehabilitation works within the zone including the construction of roads and a fence wall.
