Free Zones Board targets local businesses with launch of ‘Investment week’

Ghana Free Zones Board is embarking on a drive to encourage more local participation in the free zone programme.

Free Zones Board targets local businesses with launch of 'Investment week'The board launched its maiden ‘Investment Week Celebration’ in Accra.
Out of the 201-licensed free zone companies, 56 representing 28 percent are indigenous companies, 63 representing 31 percent are joint ventures between Ghanaians and non-Ghanaians, according to the free zones board.

The Board said Ghanaian companies already operating in the free zones enclave but are financially distressed have an opportunity to access government’s stimulus package.

Executive Secretary of the Board, Michael Okyere Baafi, said the new management is working towards facilitating the operations of export-oriented companies who are yet to be established in furtherance to government’s policy – one district, one factory.

The Executive Secretary spoke with JoyBusiness on the sidelines of the launch of the board’s first-ever Investment week.

He said, “The free zone regulations give us the flexibility to license export oriented companies that locate outside the declared and designated free zones areas.”

He said, “We expect an increase in the number of employment at the Tema Export Processing Zone and all the single factory zones.”

The total value of exports generated under the free zones programme from 1996 to December 2016 was US$30.9 billion dollars whilst the performance for last year was $2.3 billion.

As part of the celebration, the Board will be hosting Local business organizations including the Association of Ghana Industries among other individual investors on August 29 towards implementing their new strategy.

The Investment Week celebration is part of strategies of the new management to provoke interest among Ghanaians.

This year’s Investment Week is under the theme “Promoting export oriented investments for National Development”

The celebration will be an annual event by the board.



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