Ghana: Mahama Directs AG To Lay Revised GIPC Bill, 24-Hour Economy Authority Framework Before Parliament

President John Dramani Mahama speaking at the Ghana – Singapore Business Dialogue

Ghanaian President, John Dramani Mahama, has disclosed that he has directed Ghana’s Attorney General and Minister of Justice to lay before Parliament, the revised Ghana Investment Promotion Centre (GIPC) Bill.

According to him, he has also directed the Attorney General to lay before Parliament a framework for establishing Ghana’s 24-hour Economy Authority.

President Mahama these known in his keynote at the Ghana – Singapore Business Dialogue.

The revised GIPC Bill and the 24-hour economy framework form part of efforts to boost investment inflows and expand economic activity.

Mr. Mahama said “We have amended our public procurement law and streamlined approvals under the Ghana Investment Promotion Centre Act to provide fast and transparent pathways for investment. Under my leadership, Ghana will be a trusted, open and reliable investment partner. To give effect to this vision, I have directed the Attorney General and Minister of Finance to lay before Parliament two landmark bills [which are] the revised GIPC bill and the legal framework establishing the 24-hour economy authority.”

The Ghanaian leader added that “In the revised act, we have included the most favored nation status and I am sure Singapore will qualify. Most favored nation treatment, fair and equitable treatment and investment facilitation to make Ghana one of the most business friendly destinations on the continent.”

He expressed the belief that the reforms will help to attract more foreign investments into Ghana.