President John Dramani Mahama has signed the Ghana Investment Promotion Authority Bill into law, introducing a new framework aimed at improving Ghana’s investment environment and creating better opportunities for businesses and investors.
The legislation is expected to strengthen the country’s investment promotion system by providing a more coordinated approach to attracting, facilitating and supporting both local and foreign investments.
The new law forms part of government’s broader efforts to create a business-friendly economy, encourage private sector participation and position Ghana as a competitive destination for investment.
President Mahama said strengthening investment institutions remains critical to achieving sustainable economic growth, job creation and national development. He emphasised the need for policies that provide investors with confidence and support businesses to expand.
The Ghana Investment Promotion Authority is expected to play a key role in improving investor engagement, reducing challenges associated with investment processes and enhancing collaboration among institutions involved in promoting economic growth.
The move comes as Ghana continues efforts to attract more investment into key sectors of the economy, including industry, technology, agriculture and infrastructure.
Economic observers have welcomed the development, noting that a stronger investment promotion framework could help improve Ghana’s competitiveness and create more opportunities for businesses.
However, experts say the success of the new law will depend on effective implementation, transparency and the ability of the authority to respond to the needs of investors and the private sector.
The signing of the legislation marks another step in government’s efforts to strengthen economic reforms and build an environment that supports sustainable investment and growth.
BY GBEDEVI DORCAS SELORM