Hon. Nana Asafo-Adjei Ayeh, Member of Parliament for Bosome Freho, has thrown his weight behind the Ghana Investment Promotion Bill (GIPC Bill 2025), emphasising the need to update the existing GIPC Act, 2013 (Act 865) to align with current global trends and investment frameworks.
Speaking in support of the bill, Hon. Ayeh highlighted that the proposed legislation aims to harmonise investment frameworks, protect local businesses, and promote sustainable economic growth.
He noted that the bill’s passage would generate approximately 3.7 million in revenue through strategic project fees, administrative penalties, and premium investment service fees.
“When you look at the GMPC act, after that act in 2013, there have been some other new acts, particularly the Companies Act and the Exemptions Act. It is important that we look at amending this new act so that it fits the existing purpose that we are looking at,” Hon. Ayeh said.
The MP stressed the importance of Ghana’s competitiveness in attracting foreign direct investment, particularly with the African Continental Free Trade Area (AfCFTA).
He urged Parliament to adopt the bill, emphasising its potential to enhance Ghana’s investment climate and promote economic development.
The GIPC Bill 2025 seeks to establish the Ghana Investment Promotion Authority (GIPA) as the primary government agency responsible for encouraging, promoting, and regulating investments in Ghana.
The bill is expected to address persistent challenges such as fronting and regulatory inconsistencies while strengthening support systems for both domestic and foreign investors.
By: Rainbowradioonline.com/Ghana
