Government launches new platform to attract more foreign investors
In a bid to attract new businesses, the government has created a new website for foreign and local investors. The Investment Mentoring Programme is a joint project between Ghana and the United Nations Industrial Development Organisation.
Statistically Ghana is the preferred destination for investment in Africa. Peace and stability in the country is seen as the main reason for this.
Investor confidence in Ghana is at an all time high. 91 percent of foreign owned businesses are already reinvesting profits in the country rather than taking out.
However, the lack of information on how to start a new business in the country is the major challenge facing most prospective foreign investors.
Regulations are confusing and materials are expensive. Corruption and infrastructural challenges have also been identified as hampering potential investment.
The new Investment Mentoring Platform will provide a single informative web page that will give all the information potential investors will need.
While the platform is predominantly aimed at foreign investors, it will also be useful to local entrepreneurs and government departments.
Authorities are hopeful that the platform will encourage more foreign direct investors which will in turn create more jobs for local people.
Accra, May 17, 2012
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