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HOW GHANA HAS IMPROVED ITS EASE OF DOING BUSINESS INDICATORS Mawuena Trebarh (Mrs.) – Chief Executive Officer Ghana Investment Promotion Centre, gipcghana.com Presentation Outline Ghana: Salient Facts Significant Reforms Factors Driving Improvements Ghana’s Doing Business Rankings About GIPC Ghana’s FDI Drive GIPC Initiatives 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