GIPA seeks Parliament’s backing for investment reforms
The Ghana Investment Promotion Authority (GIPA) is implementing reforms under the 2023 Act to attract more competitive investments. These changes include replacing blanket minimum capital requirements with sector-specific assessments to better support local businesses and foreign investors.
Why it matters
These legislative reforms are intended to modernize Ghana's economic landscape and improve its standing as a competitive destination for international trade and investment.
The Parliamentary Select Committee on Trade, Industry and Tourism has commended the Ghana Investment Promotion Authority (GIPA) for its efforts to attract quality investments into the country and pledged its support for reforms aimed at strengthening the investment climate.
The Committee said the reforms under the Ghana Investment Promotion Authority Act, 2023 (Act 1173), would help position Ghana as a competitive investment destination while promoting greater local participation in the economy.
It made the commitment when it paid a working visit to the GIPA office in Accra to gain a deeper understanding of the Authority's operations, legal reforms, challenges and strategic direction.
The Chief Executive Officer of GIPA, Mr Simon Madjie, briefed the Committee on Friday on the Authority's mandate and reforms introduced under Act 1173.
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