Accra:The Ghana Investment Promotion Authority (GIPA) has introduced the inaugural Invest Ghana Summit, aimed at attracting investments in value addition, industrialisation, and other productive sectors as part of the Government's New Economy agenda.
According to Ghana News Agency, the summit will take place in November under the theme 'Investing in Ghana's New Economy Building a Productive Economy that Creates Value and Competes Globally.' The event was officially launched in Accra by Mrs. Elizabeth Ofosu-Adjare, Minister of Trade, Agribusiness and Industry.
Mrs. Ofosu-Adjare highlighted that the initiative aligns with President John Dramani Mahama's agenda to transform the economy from raw material exports to focus on value addition and innovation. She emphasized the importance of investment for Ghana's economic transformation and called for partnerships among the state, private sector, foreign investors, and financial institutions to foster job creation and growth.
The summit aims to attract investments that will generate employment, enhance technology transfer, strengthen local supply chains, and add value to Ghana's natural resources. It supports the government's 24-Hour Economy policy by targeting sectors such as manufacturing, agribusiness, and processing.
Mr. Simon Madjie, Chief Executive Officer of GIPA, stated that the summit is timely for Ghana's economic recovery, citing factors such as stronger growth, easing inflation, and improved international reserves that have bolstered investor confidence. Government initiatives like the Big Push and the Accelerated Export Development Programme offer opportunities to mobilise investment and expertise.
The summit will highlight investment opportunities across Ghana's 16 regions, with a focus on manufacturing, agribusiness, digital economy, telecommunications, creative arts, mining, and oil and gas. Mr. Madjie stressed the need for investments that expand local enterprises and create sustainable jobs, especially as Ghana nears its 70th year of independence.
He also discussed reforms under Act 1135, which removed the US$500,000 minimum capital requirement for wholly foreign-owned enterprises, and Act 1173, which updated Technology Transfer Agreements to be more flexible and investor-friendly.
The launch event was attended by representatives from government agencies, the diplomatic corps, business and trade chambers, private sector leaders, and development partners, signaling widespread support for the summit's objectives.