Highlights
The IPR´s central message was that encouraging existing investors to expand and reinvest in Ghana´s economy should be the main pillar of foreign direct investment (FDI) strategy in the immediate future. Ghana´s strengths in terms of attracting FDI lie mainly in natural resources. Yet there was also potential to encourage wider investment in non-traditional sectors such as resource-based agro-processed and agricultural products, and in light manufacturing for local and regional markets. Attracting investment in these areas would require concentrated efforts that include:
- Improving the investment framework with modifications to the investment code, taxation, and land, labour and competition policies.
- Strengthening the regulatory framework and institutions dealing with infrastructure development and privatization.
- Launching a booster programme to revive the activities of established investors, both foreign and domestic.
- Strengthening the Gateway strategy and linking it to attracting FDI.
- Building clusters by promoting linkages with small and medium-size enterprises.
Follow-up activities
Since the IPR was published, UNCTAD has assisted the government in the following ways:
- It advised on amending the foreign investment law.
- It produced a Blue Book on Best Practices in Investment Promotion and Facilitation (funded by the Japan Bank for International Cooperation).
- It is assisting the investment promotion agency to establish one stop shops to facilitate investors (with funding from ProInvest).
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