info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Image from Ghana Business News
Ghana's President Nana Addo Dankwa Akufo-Addo recently delivered a speech at the Ghana-China Investment Forum in the Shangdong Province of China.
"Ghana is a haven of peace, security and stability, and because she protects legitimate investments…and you should take advantage of the growing business a friendly climate in the country to invest in Ghana," he said.
He told the Chinese business community that Ghana's flagship agricultural programme, "Planting for Food and Jobs", its renewable energy sector and ICT growth were all areas of considerable opportunity.
"Thus far, companies that have established factories in Ghana, under this policy, are importing machinery and equipment duty-free, are not paying import duty on raw materials imported for production, and are enjoying a corporate income tax holiday for five years," the President said.
President Akufo-Addo indicated that his administration was embarking on an aggressive public private partnership programme to attract investment to develop the country’s infrastructural deficit, particularly in the road and railways sectors.
The President informed the business community that there were several projects in roads, water, housing, transport, industry, manufacturing, agriculture, petroleum and gas, the exploitation of Ghana’s mineral wealth of bauxite, iron ore and gold, amongst others, which are being structured to attract private sector financing.
"The government has instituted a number of incentives for the investor, depending on the nature of the activity, or the location of the investment," the President added.
The incentives, included: exemption from payment of import duty for plant and machinery; 25 per cent tax rebate for companies located in regional capitals; 50 per cent tax rebate for companies investing outside regional capitals in the regions; and 0 per cent corporate tax for ten (10) years, and, thereafter, 8 per cent for companies in the Free Zones enclave.
