GIPC targets FDI value of $10bn by 2020

The Ghana Investment Promotion Centre (GIPC) is targeting a Foreign Direct Investment (FDI) value of $10 billion by 2020, according to the Chief Executive Officer (CEO), Yoofi Grant.

He said the GIPC would, and can, achieve this if they are backed by macro-economic stability and economic growth.
He was speaking under the theme ‘Foreign Direct Investments: Making Ghana a Preferred Option in Africa’ at a bi-monthly meeting session of the Institute of Directors (IoD) Ghana in Accra last week, sponsored by Interplast Limited.
He said the centre also planned to integrate data access and share across the ministries to facilitate investment, as well as aggressively drive investment policy towards the country’s growth agenda.
The CEO said in the medium-term, the centre was committed to expanding into a one-stop shop to facilitate investment and become more competitive in the World Bank index of doing business since the country was ranked 120 out of 190 countries.
He said Ghana’s Foreign Direct Investment averaged $2.5 billion to $3 billion annually.
He said his outfit would develop strong linkages and partnerships with indigenous businesses to enable a clear correlation between investment and economic (shared) growth while delivering best-class services as an investment promotions agency by benchmarking with members of the World Bank Reformers Club.
He said they would also create a one-stop shop and entry point for investments in priority sectors by harmonising sector development to position Ghana as the premier investment and business destination in Africa.
IoD President, Frederick Ofosu Darko said the institute was established, among others, to provide opportunities to network and share ideas on the national agenda with stakeholders in corporate governance.
He said such meetings provide a platform to discuss corporate governance issues in Ghana, and thereby unlock the potentials of Ghanaian companies in the country.
The institute presented a certificate to Mr Grant for the presentation while Dr Oteng Gyasi, the Managing Director of Tropical Cables, was presented with a certificate as an honorary fellow. Other members received certificates as fellows.

Source: Kenneth O. ADADE || The Finder

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