The Minister for Information Kojo Oppong Nkrumah has urged state agencies to set up special Units to address investors’ concerns as part of efforts to boost the influx of investments.
Speaking at the maiden Spark Up Summit in Accra on Tuesday, Mr Nkrumah said the setting up a Unit by those state agencies would aid in responding promptly to the queries from investors and ensure efficiency in their operations.
The Minister expressed the need for those state agencies, including; Electricity Company of Ghana and the Lands Commission to fast-track the digitisation of their operations to ensure more efficiency.
He also implored them to open more engagement platforms to sensitise and educate prospective investors and the public about their operational policies.
The Spark Up Summit was organised by the Ghana Investment Promotion Centre, the Information Ministry and other government agencies to brainstorm on opportunities and challenges in investing in the country and proffer solutions to them.
It was held on the theme: “Maximising Ghana’s Investment Potential”, which brought together captains of industry, policy-makers, and heads of state agencies, business owners and ministers of state.
The summit was officially opened by President Nana Addo Dankwa Akufo-Addo in Accra.
Mr Yoofi Grant, Chief Executive Officer of Ghana Investment Promotion Centre (GIPC), said Ghana was well endowed with human and natural resources to spearhead Africa’s economic emancipation.
He said with the country hosting the African Continental Free Trade Area (ACFTA) Secretariat, individuals and businesses needed to take advantage to strike partnerships.
He said the investment initiative was to promote investment in the country to stimulate economic growth given the effects of the COVID-19 pandemic.
Mr Grant said it was time Ghana moved away from exportation of raw materials to increase productivity and value addition as the country was geographically well-positioned to spearhead Africa’s economic emancipation and wealth creation due to its stable political and democratic environment.
Mr Grant said despite the COVID-19 pandemic that distracted many global economies, President Akufo-Addo had provided leadership that brought in $2.65 billion worth of FDI into the country last year.
He said since 2017, the country’s economy had witnessed great resilience, posting seven per cent average economic growth with a favourable climate for doing business due to the government’s visionary bilateral and multilateral initiatives.
He stated that the $2.65 billion worth of investment went into various sectors of the economy, including; agriculture, manufacturing, oil and gas and services and was estimated to create 27,000 direct jobs for the youth.