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GIPC talks Mauritius into 1-District, 1-Factory

The Ghana Investment Promotion Centre (GIPC) is confident of attracting Mauritian investors to partake of government’s signature 1-District, 1-Factory project, after a recent trip by a Ghanaian delegation to the Indian Ocean country whet up investor appetite there.

Currently, Mauritian companies have invested close to US$2billion in various sectors of the Ghanaian economy, and with the GIPC looking to double FDI inflows to US$5billion this year, it is confident Mauritian investors would play a key role.

Briefing journalists, last Friday, on the trip to Mauritius, CEO of GIPC, Yofi Grant, said he struck a deal with the Mauritians that will see the creation of a Special Economic Zone (SEZ) in Dawa, Accra, where Mauritian companies will operate under favourable terms and conditions.

The goal, he said, is to woo more Mauritian investors into the country, as a means of creating jobs, and as means of positioning Ghana as an investor destination on the continent.

Land, he added, has already been secured for the Special Economic Zone project, with all other necessary requirements already taken care off for a successful take off.

According to Mr. Grant, the SEZ concept will be replicated with other countries Ghana has strong business ties with.

“The new approach GIPC wants to take is to rely mainly on technology as a means of dealing with the numerous bottlenecks businesses face when seeking to register or do business in the country,” he said.

Double-taxation deal

The mission to Mauritius also saw government sign a double taxation agreement, which means the same taxpayer will not be taxed by both countries, a move Mr. Grant said, will enhance trade and business between the two countries.

The four-day mission also saw the initiation and negotiation of an eventual Investment and Promotion and Protection Agreement between the two countries. According to the GIPC boss, when successful, the agreement will help protect the investments of each country’s investors in the other country.

The mission, which was organised in collaboration with the Board of Investment (BOI) of Mauritius, provided a platform for interactions between Ghanaian companies and their peers in Mauritius.

Members of the Ghanaian delegation were drawn from the Ghana Free Zones Board, Ghana Revenue Authority, some CEOs and heads of private sector companies operating in the financial services, tourism, agribusiness and waste management sectors.