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Ghana: Trade ministry, ready to help investors acquire land

(AGI) - Accra, Jul 12 - The Ministry of Trade and Industry in Ghana has expresse...

Ghana: Trade ministry, ready to help investors acquire land
Ekow Spio-Garbrah - fb

(AGI) - Accra, Jul 12 - The Ministry of Trade and Industry in Ghana has expressed its readiness to assist foreign investors acquire lands to set up manufacturing firms in the country. The assurance comes after the Chinese Ambassador to Ghana Madam Sun Baohong told journalists that even though a number of Chinese investors are ready to relocate to Ghana to establish their businesses, the move could be hindered by challenges in land acquisition. Earlier, the Minister for Trade and Industry Dr. Ekwow Spio-Grabrah announced that some Chinese investors have officially written to Ghana to relocate their businesses to the country to have access to raw materials. Speaking to journalists on the issue, the Deputy Communications Manager at the Ministry of Trade and Industry, Nasir Ahmed Yartey explained that with the current administrative reforms, land acquisition is now less cumbersome provided an investor is ready to go through the legal processes to acquire it. "The acquisition of lands for investment purposes shouldn't be a challenge to any investor so long as the investor goes through the appropriate route and deal with the rightful authorities," he said. Mr. Yartey explained that the Ministry of Trade and Industry has aided investors by directing them to the Ghana Investment Promotion Center, and the Lands Commission, guiding investors on the legal procedures in acquiring lands for manufacturing purposes. "Even under the Ministry of Trade and Industry, we have the Free Zones Board and they have the power to declare any area as a Free Zone enclave to aid in setting up manufacturing companies," he said. Mr. Yartey stated that, as part of the conditions, the investor must venture into production of value added products with the intention of exporting to generate income for the country. "As I speak to you, we have Free Zone enclaves in Sekondi, Takoradi and Accra. So far as the purpose of the acquisition is value addition and manufacturing, with the intended purpose of export, then an investor shouldn't have any challenge," he stressed. He cited for example that the Lands Commission has in recent times outdoored a robust service to allow both local and foreign investors have access to lands for establishing manufacturing firms. (AGI) .