The Ghana Free Zones Authority (GFZA) has announced that companies in the free zones enclave have made export earnings of over US$27 billion and have employed close to 33,000 people directly with over 31,000 of them being Ghanaians as the Authority currently has 217 active companies.
The GFZA have consequently stated that government agencies are not barrier or have competitive edge over private companies but play a lead role in the facilitation and promotion of business for the socio-economic growth and development of the country.
Speaking at the 3rd Annual Investment week 2022 celebration in Accra, the Chief Executive of the GFZA, Amb. Michael Oquaye Jnr said the event forms part of the week long investment celebrations which commenced from the 5th of December and will climax on the 9th of December, 2022 held under the theme, “GFZA, Championing Export-Led Industrial Growth in the Context of AfCFTA and World Trade” with lead sponsors such as Greenhouse, GT Bank, McDan Group of Companies, Golden Exotics Limited among others.
According to the CEO, the forum is geared towards taking stock as well as deliberate and discuss issues of common interest in the investment space and to enhance also operations of the Authority and enterprises as well as address challenges for companies to be abreast with emerging trends in the investment environment.
He however reminded some enterprises that have not yet submitted their quarterly returns and audited financial statements to kindly comply by the rules and regulations of the Authority, adding that early submission of the said documents helps the Authority to have an up to date data for smooth evaluation and monitoring adding further that some companies own ground rent as others have not renewed their licenses and urged all CEOs to duly comply accordingly.
The CEO commended companies for embarking on Corporate Social Responsibility (CSR) projects in the community they operate, and pointed out that their commitments have put smiles on the faces of residents in their respective communities.
The Minister of Trade and Industry, Mr. Alan Kyeremanten in a keynote address said the enterprises in the enclave have made huge capital investment as well as the creation of jobs and have impacted positively on the socio-economic development of the country, adding that the technology transfer have also contributed immensely to the growth of the economy.
The Minister challenged companies to scale up their export drive and called for a boost in agro processing and other intermediary products of manufacturing indicating that with the incentives and the conducive business environment that the GFZA regime offers, the country will become an attractive destination for investors.
The Presidential Advisor on Media and Strategic Communication, Madam Oboshie Sai Cofie commended management of the Authority for the impressive achievements and contributions towards the growth of the economy saying free zones have created jobs, earned the country foreign exchange, enhance and boost export and made Ghana to be part of the global value chain particularly in the cocoa, shea and fruit processing space.
Government is fervently pursuing investment opportunities to ensure that the export drive of the country and other business takes full advantage of the importance of the African Continental Free Trade Area (AfCFTA) as part of the efforts to become an export led economy.
Source: Ben LARYEA
