Frank Annoh Dompreh
Member of Parliament (MP) for Nsawam/Adoagyiri, Frank Annoh-Dompreh, has called for the immediate amendment of the Free Zones Act 1995 (Act 504) that established the Ghana Free Zones Board to rake in more revenue for the country.
Making the call in a statement made on the floor of Parliament on Tuesday, the Nsawam/Adoagyiri MP, who is also the chairman of the Foreign Affairs Committee of Parliament, said the amendment would position the board to take full advantage of the rapid globalization and Information and Communication Technology (ICT) era and offer the services that would be beneficial to the country.
“GFZB’s lack of corporate identity and legal personality incapacitates it from transacting business independently and therefore the Act ought to be amended for the benefit of the country,” he said.
According to the Annoh-Dompreh, the new act should give power to the GFZB to declare free ports.
“The Act should also prescribe stiffer punishment for non-compliance by companies that abuse the incentive regime administered by the regulator while mechanisms to enhance compliance must also be provided,” he said.
He said that the new act must empower management to issue licences to applicants who qualify upon evaluation after due consultation with the Minister of Trade and Industry.
“Since port and other government operations are conducted via the internet (paperless), free zones applicants should show proof of ability to process transaction via the internet before being given the licence to fully operate,” he said, adding that this will foster monitoring and help the enterprises to access the Ghana Community Network System (GCNET) platform.
“The push for review is to also consider extensive provisions specific to procedures within free ports.
“The Board should have the right to generate funds internally. There should be provisions in the amendment on sources of funding for the administrative expenses of the entity.”
By Thomas Fosu Jnr