KT Hammond inspecting some of the technology used by the companies in their operations
The Ministry of Trade and Industry is considering the development of a special economic zone (SEZ) within the Tema port enclave to drive investments and trade.
A special economic zone is an area in a country subject to different economic regulations than other regions within the same country.
Minister of Trade and Industry, K.T Hammond explained that, SEZ within the port enclave was a viable initiative that would propel the government’s industrialisation agenda as they are typically created to facilitate rapid economic growth by leveraging tax incentives to attract foreign investment and spark technological advancement
Speaking during a tour of Meridian Port Services (MPS) at Tema yesterday, he said the government would provide the necessary policy direction and enabling environment to foster the creation of the SEZ within the port.
The tour, which also included the cargo checkpoints at the Kotoka International Airport and Ghana Revenue Authority (GRA) offices at Tema port, forms part of the Minister’s working visits to familiarise himself with the operations of organisations and institutions in the trade facilitation space.
He said boosting international trade was an integral part of government’s development plan, indicating that all the necessary support required to enhance Ghana’s trade receipts would be provided by government.
“The SEZ is a fantastic idea and the Ministry will urgently consider it. We have been told that it will feed into increasing the volumes of export and import, thereby enhancing the operations of the port,” Mr. Hammond added.
The SEZ, he said, ensured the centralisation of businesses and attracted foreign direct investment.
Mr. Hammond advised the port operators and cargo entry and exit points at Kotoka International Airport to work towards removing all impediments to processing that could frustrate businesses.
In an earlier interaction with managers of Nick TC Scan Limited, the company responsible for the scanning of goods for both import and export, the Minister commended them for the investments in technology which had enhanced the efficiency of its processes.
He further urged continuous investment and regular training of security officials who operate the technology to increase productivity.
On his part, Joojo Morrison, General Manager, Nick TC- Scan Ltd, said, the company had acquired the latest scanning equipment with a high level of detection technology for the various cargo entry points including Hamle and Paga.
“We have made significant investments in our scanning systems. By May, we expect the arrival of a new with modern technology for the KIA Cargo checkpoint and two other which will be in the country by September this year.
These equipment is fixed with a robust system that detects all container contents,” he added.
Caption: Mr Hammond inspecting some of the technology used by the companies in their operations.