Chief Executive Officer of the Ghana Investment Promotion Center (GIPC), Mr. Yoofi Grant has underscored the need for reforms in creating an enabling environment for investors.
“Government is engaged in several reforms, for example, paperless port, enabling us to do e-registration at the Registrar General so you can sit anywhere in the world, register your business and pay for it.”
His comments come on the back of the latest ‘Doing Business Report’ which ranks Ghana at the 111th position in its latest Global Competitiveness Ranking; this is a drop from Ghana’s previous 109th position.
The report ranks countries on business and investment competitiveness based on macroeconomic environment, good market efficiency, infrastructure and other economic factors.
Speaking to the media at the 2017 edition of the Global Business Forum on Africa, CEO of the GIPC, Mr. Yoofi Grant described the drop in position as worrying and pledged government’s readiness to create an investor friendly environment.
‘‘Of course, it is a bit worrying for us because that is not where we intend to be, we need to do much better.’’
He noted that government is currently engaged in peer reviews with other well performing countries in order to come up with reforms that will facilitate economic growth.
“We are comfortable, we are confident. We are very happy that we are still engaged and we will do much better than before.”
Mr. Yoofi Grant also reiterated government’s commitment towards ensuring macro-economic stability and economic discipline.
According to him, despite Ghana’s drop in the latest ranking, many investors still consider Ghana the most preferred business destination.
“Even at the conference, everybody wants to talk to you; once you say you are from Ghana, they want to engage you.”
The GIPC CEO further urged regulatory bodies and businesses to work together in creating linkages and the environment to make Ghana a great business destination.
By Irene Amesimeku | 3news.com | Ghana