The tour spanned from May 25-31, 2022
As part of its nationwide sensitization tour, the Ghana Investment Promotion Centre (GIPC) has rounded up its tour of the Upper West region Monday, May 30, 2022, in the Wa Municipality.
Read full articleThe nationwide sensitisation tour which spanned from May 25-31, 2022, is under the theme “Grow in Ghana, Grow with Ghana”.
The tour is aimed at educating stakeholders on the functions of the centre, and sensitizing them about the untapped economic potential and opportunities existing in the regions.
It is also to sensitize the Metropolitan, Municipal and District Assemblies as well as traditional authorities on the need to make land available to businesses for investment purposes.
In addition, apart from also aiming at obtaining first-hand from Small and Medium Enterprises (SMEs), issues that inhibit their growth and undertaking on-the-spot analysis of companies for registration, it also facilitates the development and packaging of new projects for promotion purposes.
With the campaign featuring investment fora/workshops in the regional capitals and visits to selected project sites, to obtain first-hand information on projects being implemented by local investors, it was now the turn of the Upper West region to have its own.
The event brought together over 120 SMEs in the region to brainstorm on the operations of GIPC and the benefits associated in registering with the centre.
Speaking at the event Monday, May 30, 2022, Mr. Edward Ashong-Lartey, Director of Investor Services of GIPC stated: "We are here to sensitise the business community and the MMDAs about the Centre's activities and how we can help businesses to grow. On this visit, we will also try and identify specific investment opportunities which we'll profile and then market them as part of our promotional activities.
"During the presentation, you would realize that in terms of the projects registered, from 94 (1994) to 2021, we've registered only five (5) projects in the region but if you look at the various resources the region has, I believe there is a lot more that has not been captured."
"First of all we told them what GIPC is and how we can help their businesses to grow, we also encouraged them to engage our business development specialist to help us to profile specific investment opportunities which will become market to the investment community both Ghanaian and foreign. I also said that when you go out to market Ghana as a place to do business, these investors would ask for specific projects for them to consider. So you cannot just go and say, come to Upper West region they have vast lands. At least you must have some previous documents and that is what we're also doing."
He encouraged the business community to have their businesses legally registered with the GIPC to enable them enjoy the benefits that come with it. While assuring those wishing to diversify or expand their businesses of the assistance of a business development specialist, he mentioned the outfit also has a monitoring and evaluation division that checks on compliance to the centre.
Mr. Edward Ashong-Lartey highlighted the need to let the whole world know about investment opportunities the region has, adding, the outfit was going to visit some projects in the region and also engage the Municipal and District Chief Executives as well for more collaborations.
Mr. Adam Mohammed Abdul-Mumin, the Upper West Regional Director of the Ghana Enterprise Agency (GEA), addressing the businessmen and women, raised concern for their over-reliance on sole proprietorship in running their businesses and demanded a change in the trend.
He urged them to have their businesses registered as limited liability companies since that is the only way they can benefit from GIPC.
He explained that, "For businesses to grow, they go beyond one person's capabilities. You need to open up for other people to partner with you. The partnership will also increase employment and national incomes."
Mr. Adam Mohammed has meanwhile, appealed to GIPC to consider opening an office in the Upper West region to make business owners abreast with their operations
Established under Act 865, 2013, the Ghana Investment Promotion Centre, GIPC, as a government agency, is to promote, coordinate and facilitate investments in all sectors of the Ghanaian economy.
Its functions cover investment advisory services, joint venture search, identification of specific projects for investment promotion, grant of investment incentives and provision of investor support services, registration of technology transfer agreements and negotiation of bilateral investment treaties as well as administering support services to both new and existing investors.
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