MMDAs and Traditional Authorities advised to release lands for investment purposes

The various Metropolitan, Municipal and District Chief Executives, traditional authorities and land owners have been advised to release lands for investment purposes and the establishment of industrial parks.

Speaking at a sensitization workshop organized by the Ghana Investment Promotion Centre, GIPC, for stakeholders in Bolgatanga, the Director in charge of Monitoring and Tracking, GIPC, David Laryea said the Upper East Region abounds in very resourceful natural lands that have the propensity of refining the fortunes of the region and its people if they are developed. 

He therefore urged MMDAs and land owners to make available information on lands in their respective areas for prospective investors to have easy access for investment purposes. 

The sensitization workshop formed part of GIPC tour of the region to educate MMDAs and other stakeholders on the services and the new direction of the Centre in line with the GIPC's vision to discuss the development of strategies to attract the most appropriate investments into their areas of jurisdiction. 

It was also aimed at identifying investment opportunities in the region for promotion and to brief local investors on opportunities for joint ventures and other forms of business collaborations. 

The Director in charge of Monitoring and Tracking, GIPC, David Laryea said the tour will create the platform for local investors and Coordinators of Regional and District Coordinating Councils, to deliberate on the preferred investment areas that each MMDAs and local companies may wish to present for promotion. 

According to him, MMDAs were the authorities responsible for coordinating and harmonizing the design and preparation of development plans for the regions, and their role in the project call by the GIPC, was critical to ensure that the Local Content Law becomes fully beneficial to Ghanaian companies located within the regions. 

He said the workshop therefore creates a platform for participants to deliberate on how best businessmen and women, as well as MMDAs of the region could attract a lot more investments into their operations. 

Mr Laryea explained this would encourage and prepare indigenous Ghanaian companies to take advantage of the provisions in the Local Content law, which requires that a Foreign Investor cedes a minimum of 10 per cent share to the local company as partner. 

He therefore encouraged local investors to register with the Centre to enable them to benefit from incentives provided by the GIPC Act 865 of 2013.

GBC