We’ve put measures in place to reduce cost of doing business – Akufo-Addo

President Akufo-Addo has expressed government’s commitment to improve the business environment to grow firms and improve the livelihood of Ghanaians.

According to him, this is in line with the realisation of the “Ghana Beyond Aid” agenda.

Speaking at the maiden edition of ‘Spark Up’, an investment summit organised by the Ghana Investment Promotion Centre and the Ministry of Information, the President said his government has put in place adequate measures to enhance the business environment.

Government since 2017 has put in place measures needed to reduce the cost of doing business, improve the business environment and make the Ghanaian economy one of the friendliest in Africa. But also one of the fastest growing economies in the world between 2017 and 2020, averaging  7% GDP growth rate, up from the 3.4% we inherited in 2016,” he said.

The Ghana Investment Promotion Centre also disclosed that it has targeted $3 billion of Foreign Direct Investments in six areas. They include agriculture, infrastructure, industry and education.

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The Chief Executive of GIPC, Yofi Grant, on his part said, “this year, we’re targeting $3 billion of foreign direct investments. We’ve been talking about reforms for a while and the most important thing to ensure smooth implementation is to remove barriers. One of the barriers we have constantly come across is minimum capital requirements.”

Meanwhile, US’ Ambassador to Ghana, Stephanie Sullivan, has reiterated her country’s commitment to maintain trade ties with Ghana.

According to her, the ‘Spark-Up’ project is a good initiative to help investors get update about the Ghanaian investment environment.