Parliamentary committee commends GIPA’s investment drive, backs key reforms
During his presentation, Mr Madjie traced the evolution of Ghana’s investment promotion architecture, from the Capital Investment Board established in the early 1960s, through the Ghana Investment Code under PNDC Law 116, to the Ghana Investment Promotion Centre (GIPC) Act of 1994 (Act 865), and subsequently Act 1173 of 2023, which established the GIPA.
The Parliamentary Select Committee on Trade, Industry, and Tourism recently paid a visit to the Ghana Investment Promotion Authority (GIPA) to gain insight into the Authority's operations and strategic direction. GIPA CEO Simon Madjie provided a comprehensive briefing on the Authority's mandate, evolving legal framework, and operational performance under the new investment regime.
The Parliamentary Select Committee commended GIPA's investment drive and backed key reforms introduced under Act 1173, including the removal of blanket minimum capital requirements for joint ventures and wholly foreign-owned enterprises. Madjie emphasized that the reforms aim to provide investors with a seamless one-stop-shop experience, backed by accurate information and high-value facilitation services, while ensuring local businesses are protected through targeted mechanisms such as local content regulations and sector-specific financial requirements.
Brief written by urgent.news from MyJoyOnline Ghana's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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