The Western Regional Minister, Paul E. Aidoo, has stated that the NDC government has adopted a lot of measures to ensure that Ghanaians fully benefit from the investment potential of the country.
He explained that through investment jobs and wealth are created which help substantially to improve the wellbeing of the citizenry.
He said it is sad that some investors and traders deliberately flout the country’s investment laws.
“Some do not even register with GIPC as required under the GIPC (Act 478) before commencement of operations.
And when they even register they do not comply with its provisions”, the minister bemoaned.
Paul E. Aidoo, Western Regional Minister
Mr Aidoo said this at the inauguration if Western Regional Task Force on trade and investment at Takoradi over the weekend.
He added that some activities of foreign investors constituted blatant disregard for the country’s investment laws.
“…The irony of the situation is that most of these unlawful activities occur under the very close noses of our security agencies”, stated Mr Aidoo.
The president of GIPC stated that the main objective of non-Ghanaian business people operating in the country was to ensure that Ghana’s investment regulations are respected and complied with.
According to the president, the task force will monitor foreign investors in the trading sector to ensure that they fully comply with Ghana’s investment laws.
He said this will encourage and promote investments in Ghanaian economy.
The GIPC Act, according to him, does not ban non-Ghanaians from operating in the trading sector whether in wholesaling or retailing provided they make an initial equity capital investment (cash or goods of at least hundred thousand United States Dollars- US$100.00) in either cash or goods.
“Additionally, a foreign-oriented enterprise which operates in the trading sector has the responsibility to employ a minimum of ten Ghanaians”, he noted.
STORY: DOMINIC ADDO, TAKORADI
