Yoofi Grant
The Ghana Investment Promotion Centre (GIPC), which is responsible for the promotion of investments in the country, has begun the review of the GIPC Law, (Act 865, 2013).
A release from the Centre indicated that a comprehensive review of GIPC legislation was undertaken several years ago leading to the repeal of the GIPC Act 478, 1994 and the passage of Act 865 in 2013.
However, after more than three years of implementation, GIPC indicates it has become necessary for the assessment of the revised law and make necessary amendments to develop the Ghanaian economy through investment.
The Centre also hopes the review of the existing law would ensure that the law creates the regulatory environment to make Ghana the preferred investment destination in Africa, and ensure that legislation facilitates government’s investment initiatives.
As a result, the Centre has from April 2017 held several sessions with various stakeholders on provisions of the Act being considered for review.
These sessions have so far been successful, encouraging dialogue and feedback on the implementation of the Act.
The ongoing review sessions are being used to obtain valuable feedback from key stakeholders in the private and public sectors.
By Jamila Akweley Okertchiri