Doing Business
The 1994 Ghana Investment Promotion Act guarantees the freedom for non-Ghanaians to establish and run enterprises in potentially lucrative areas such as natural gas, hydropower projects, fruits and vegetables farming, food processing including fish canning; production of agro-chemicals, pharmaceuticals and information technology.
The government's privatization initiatives also open up a number of sectors for new business partnerships and investment, notably the banking and the state petroleum and telecommunication s sectors. Tourism is an especially strong area for a new business projects. Key opportunities in this sector include: tourist accommodation, particularly beach resorts; tourists transportation, catering enterprises, eco-tourism, night life and leisure and tourist servicing enterprises.
As a result, renewed private sector activity is increasing and attracting foreign investment in a growing number of strategic areas, notably mining, manufacturing, telecommunications, real estate development and financial services.
Among the factors responsible for this trend has been the adoption and implementation of sound macroeconomic policies and the enactment of more liberal investment legislations. These legislations seek to free the investor from bureaucratic constraints and provide facilitating mechanisms to reduce costs associated with delays in implementing projects.
Advantages
. Stable Multi-party government
- Demonstrated commitment to market liberalization
- MIGA membership
- Investment Promotion
- Ongoing privatization in key economic sectors
- Expanding stock market
- Competitive labour force
- Export free zones where goods traded with other countries are exempt from customs and laws
- Immediate access to all markets of the Economic Community of West African States (ECOWAS)
- Quota-free access to U. S. A. and European Union markets
- Member of the World Trade Organization
- Official language English