GIPC to raise $5bn in investments by end of 2017

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The Ghana Investment Promotion Centre (GIPC) is seeking to bring into the country, at least, two of the biggest companies in the world and raise US$5 billion in investment by the end of 2017.

Chief Executive Officer of the GIPC, Mr. Yofi Grant revealed this at an Investment Opportunities Forum organized by Citifm, an Accra based radio station.

Grant was outlining some of the strategies his outfit is adopting to promote investment in the country and said the company has already begun a rebranding process to yield more results.

He explained that “We will target investments that are strategic; my personal goal is to bring, at least, two of the largest companies in the world to Ghana who will create a lot of opportunities and create a lot of learning space for our local people. We have done a lot of protectionism in our 50 years as a country; we need to move to incentives. We need to engage our businesses such that when we bring foreign investors they can have partnership that will work to the benefit of Ghanaians.”

As part of the rebranding process, the company is seeking to, among others, review the business and investment environment to promote both local and foreign investments. It will also establish a one-stop shop, which will be a comprehensive platform to enable it do business smoothly, effectively and more conveniently. Again the company is seeking to establish offices in all the regions and, in the long term, create Investment Promotion Agencies to help identify investment opportunities in each region.

Grant also announced that his outfit is going to create the GIPC services mall to facilitate the one stop shop to meet investment needs of businesses.

“We will begin an online portal and run effective social media platform to promote the company’s services and projects. We are doing a lot to change the Investment landscape. We at GIPC are trying to harness and package all the potentials so we can sell them to both Ghanaians and foreign investors with capital, who will be partners of our development. So for example, we want to do a comprehensive railway system which costs between US$2 billion and US$3 billion, can we find somebody who can bring in the money and share in the goods?” he queried.

The GIPC boss also disclosed that a Turkish company has promised to sponsor the One District One Factory project with a US$150 million loan to develop agricultural tools.

He therefore urged Ghanaian businesses to take advantage of what he said is the enormous opportunities available in the country.

Source: Goldstreet Business

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