GIPC to unveil new regulations to catalyze foreign direct investments, foster local enterprise capacity

Chief Executive Officer of the Ghana Investment Promotion Center (GIPC), Yofi Grant, has said the GIPC will be unveiling a suite of innovative regulations aimed at invigorating Foreign Direct Investments (FDIs) and bolstering the capabilities of indigenous enterprises.

Mr Grant made the disclosure while speaking at the 2nd edition of the GIPC CEO’s Breakfast Meeting, held under the theme “Promoting Sustainable Growth: Balancing FDI and Local Content in Ghana.”

Against the backdrop of this gathering, which served as a crucible for local and international investors, Mr. Grant delineated the GIPC’s forthcoming strategy. He outlined a visionary approach that harnesses the untapped potential of the Ghanaian Diaspora Community, catalyzing a surge of investments in the nation’s economy to expedite overall growth.

At the core of Mr. Grant’s discourse was the imperative of forging symbiotic relationships between overseas investors and domestic enterprises. He underscored the necessity of cultivating a business environment that is mutually advantageous, resonating with the essence of the African landscape.

He noted that the new regulations are designed to streamline the inflow of foreign direct investments while concurrently cultivating sustained partnerships with local industry players.

Mr. Grant emphasized that the GIPC’s thrust lies in empowering local enterprises to be key drivers of the FDI momentum. “We are charting a course towards collaborative prosperity,” he quipped, adding that the regulatory framework under development seeks to crystallize a harmonious convergence between international capital and homegrown businesses.

The 2023 iteration of the CEO’s Breakfast Meeting orchestrated an assembly of investors, both local and international, who deliberated on strategies to magnify local content participation and harness the country’s abundant resources through strategic alliances.

During a riveting panel discussion, Mr. Humphrey Ayim-Darke, President of the Association of Ghana Industries, delivered a clarion call for the government to articulate a cogent objective for attracting FDIs, whether as catalysts for job creation or conduits for technological diffusion.

Echoing these sentiments, Mr. Sulemanu Koney, the CEO of the Ghana Chamber of Mines, posited that a meticulous blueprint ought to be crafted by the government. This blueprint should delineate strategic objectives for FDI inflow while concurrently nurturing the growth of indigenous enterprises, fostering a mutually beneficial ecosystem.

The 2023 CEO’s Breakfast Meeting, now in its second iteration, ardently seeks to improve Ghana’s investment landscape for both domestic and international enterprises, laying the foundations for collaborative progress and fortifying local business engagement within the national economic tapestry.

Source: Norvanreports