Q&A
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Industry Information
Industry Information
What is the level of government commitment to the private sector?
The Government of Ghana has pledge to partner the private sector to provide the necessary enabling policy environment and incentive for both enterprise growth and the efficient and effective delivery of public service.
This has become a standard and a compass for all institutions and agencies of Government that deal with investments.
- The positive encouragement of investors through the activities of the Ghana Investment Promotion Centre, the Ghana Free Zone Board, which offers tax, tariff and other regulatory relieves to enable exporting enterprises to produce goods at low cost and to achieve globalised manufacturing status.
- There is a liberalized Technology Transfer Regime, which aims at promoting technological skills and management expertise in local enterprises;
- the financial market has been Liberalized
- There are incentives, which are carefully designed to attract investors (both foreign and Ghanaian); to reduce financial risks to investors; to free investment capital and; to reduce high start up costs;
- The liberalization of the laws and regulations controlling the entry and establishment and the principle of national treatment which permits unrestricted foreign participation in all sectors of the economy with the exception of unsophisticated activities with low capital outlays;
- The on going privatization programme, which involves total or partial transfer and control of publicly owned assets to private sector investor or entities (both foreign and Ghana);
- The effective organization of the private sector associations i.e. the sectoral Chambers of Commerce, the Association of Ghana Industries and other business associations under the umbrella of the Private Enterprise Foundation (PEF), an apex institution with mandate to play an advocacy role on behalf of the private sector.
- The commitment of government to contribute to the achievement of economic integration and investment liberalization within the ECOWAS sub-region with a view to increasing market size;
- The Gateway project, which is mandated to remove all legal, institutional and procedural impediments to the development and growth of the Private Sector in Ghana.
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