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Thursday, July 23, 2009

President Mills Identify Time Consciousness As Means To Boost Investment


Security personnel at the Accra International Conference Centre (AICC) yesterday responded to the call of President John Atta Mills for time consciousness and debarred latecomers into the hall where the President gave his maiden address to the Ghana Investment forum.
The programme scheduled to start at 0930 started later in expectation of other dignitaries, and the President minced no words, , in a preface to his speech, in calling on Ghanaians to be time conscious and adopt more positive approach to enhance the business environment in support of Government's investment drive.
When the programme started, the security personnel did not allow anyone to the hall, including journalists and the US Ambassador, Mr Donald Teltelbaum. The main objective of the three-day forum was to offer a platform for investors to engage with government officials, captains of industry and investment facilitators to enhance a conducive business environment.
President Mills underscored the necessity to work aggressively at climbing up the investment ladder since Ghana's ranking by the World Economic Forum was not the best. The President said while the Ghana Investment Promotion Centre (GIPC) had been tasked to improve the business environment and ultimately enable investors to derive maximum returns on their investments, the ultimate aim was for Ghana to benefit adding that national interest will take precedence over any sectarian interests.
Reforms being done in Ghana's investment drive include the review of the Investment Act of 1994 and other ancillary legislations. The Centre had also been charged to finish work on the outstanding Bilateral Investment Treaties and Double Taxation Agreements with Ghana's major partners.
President Mills said agriculture, industry, banking and financial services, Information and Communications Technology (ICT), tourism, petroleum and mining services as well as opportunities that will arise from Public/ Private partnerships were the sectors that touched on the very core of the government's development agenda.
He reiterated government's commitment to modernise agriculture, create an attractive environment for the banking and financial services, facilitate the provision of the necessary ICT infrastructure and adopt measures to ensure that Ghanaians derive optimum benefits through active participation in the services to be provided in the petroleum industry.
President Mills said Government was taking another look at the Legislative Instrument LI 1817 passed in 2005 with a view to give tourism the nation's third largest foreign exchange earner more breadth and depth. He stressed openness, transparency, honesty and hard work to attract the necessary investment to create jobs. Mr Ishmael Yamson, Chairman of the GIPC Board commended government for working on macro economic stability to attract the necessary foreign investment.

Source: GNA

Posted: 23/07/09

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