HOW GHANA HAS IMPROVED ITS EASE OF DOING BUSINESS INDICATORS
HOW GHANA HAS IMPROVED ITS EASE OF DOING BUSINESS INDICATORS
Mawuena Trebarh (Mrs.) – Chief Executive Officer Ghana Investment Promotion Centre, gipc...
Ghana: Salient Facts Middle income country West Africa’s 2nd largest economy and market Population of 25.28m people
GDP US$ 38,303 bln in 2014 Best destination for ease of doing business in West Africa - World Doing Business Report 2014 Among the top 5 destinations for doing business in Sub-Sarahan Africa 31,028,253 m mobile voice subscribers as at Feb. 2015
Significant Reforms (2008- 2015) Ghana has in the last decade undertaken several measures to ensure extensive reform with the objective of putting the economy on a good footing. Some Significant Reforms (2008-2015): Computerization at the company registry reducing time required for business registration
Streamlining property registration Upgrading Port infrastructure to reduce congestion in the ports Introduction of modern and automated commercial courts to improve efficiency of commercial dispute resolution Enhancing access to credit by licensing a credit bureau and establishing a centralized collateral registry.
Factors Driving Improvements Growing reputation as the most stable political environment in West Africa Transparent legal & regulatory framework Bilateral Investment Treaties (BITs) and Double Taxation Agreements (DTAs) to deepen international cooperation and encourage technology transfer and foreign direct investments Availability of a robust and well regulated financial services sector with very viable institutions
Factors Driving Improvements Generous investment incentives, benefits and guarantees Development of a diversified portfolio of infrastructural projects for national development. Partnership with the private sector to drive the development agenda Institutional reform and capacity building for improved service delivery by public sector institutions
Doing Business Report 2015 Rankings How Ghana and Comparator Economies Rank on the Ease of Doing Business
Country
Ranking 2015
2014
147
158
Ghana
70
69
Kenya
136
137
Nigeria
170
175
South Africa
43
37
Cote d’Ivoire
Doing Business 2015 Rankings How Ghana and Comparator Economies Rank on the Ease of Doing Business
Indicator
Ghana
Nigeria
South Africa
Best Performer Globally
Starting a business
96
129
61
New Zealand (1)
Dealing with construction permits
106
171
32
Hong Kong SAR, China (1)
Getting Electricity
71
187
158
Korea Rep. (1)
Registering Property
43
185
97
Georgia (1)
Getting Credit
36
52
52
New Zealand (1)
Protecting Minority Investors
56
62
17
New Zealand (1)
Trading Across Borders
120
159
100
Singapore (1)
Enforcing Contracts
161
140
46
Finland (1)
The GIPC Mandate The Ghana Investment Promotion Centre (GIPC) is a government agency established under Act 865 to promote, coordinate and facilitate investment in the Ghanaian economy. Our functions include: Investment advisory services Joint venture search Identification of specific projects for investment promotion Grant of investment incentives and provision of investor support services Registration of technology transfer agreements
Negotiation of Bilateral Investment Treaties
Ghana’s FDI Drive 100% foreign ownership Joint Ventures are strongly encouraged and promoted. Drive for FDI has been targeted and sector specific. Guided by the principle of translating FDI into tangible results Ghana has recorded very high project values over the past five years. Average of US$ 4.3 billion investment a year over the last five years.
GIPC Initiatives to Improve Ghana’s Business Environment One Stop Shop Akwaaba Services Think Ghana Campaign Stakeholder Engagement CEOs Breakfast Meetings Annual Budget Input seminar
Engagements with Business Associations Enhanced Relations with Foreign Missions in Ghana & Ghana’s Missions Abroad
Thank you
Ghana Investment Promotion Centre www.gipcghana.com
