Free Zones to export culture
The Ghana Free Zones Board (GFZB) is embarking on a culture export drive which will allow investors in the tourism sector to export Ghana’s rich culture to other parts of the world.
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According to the Head of Investor Support Services, Hajia Hanatu Abubakar-Bimi, this would help Ghana to market most of its cultural heritage, attract some foreign exchange into the country and boost the country’s reserves.
Speaking at the recent tourist fair in Accra, she said, “The tourists are coming in but we have failed to veer into exporting our culture to other parts of the world which could give investors some good returns on their investments”.
“Over two decades now what investors are interested in has been to export our tangible goods.The time has also come for them to consider exporting the intangible ones as well”
She said the GFZB was ready to give licences to companies which wanted to venture into this area, adding that they would enjoy the same benefits as other enterprises under the Free Zones Act.
The GFZB which seeks to provide a one-stop shop service centre for free zone investors has attracted proposed capital investment of US$ 790 million for the first eight months of the year.
This was made possible through the registration of 23 new free zone companies in the country.
The proposed capital investment has translated into over 31,000 direct jobs in the country.
“Apart from the incentives that we give to potential investors, what makes investors troop into the country is that Ghana is touted as a beacon of hope for Africa. There is always peace and stability in the country and that is our selling point” she said.
The GFZB currently has four established enclaves which are located in Tema, Kumasi, Sekondi and Shama.
The Tema Export Processing Zone, with a total area of 1,200 acres offers investors a favourable and conducive environment for manufacturing, service and commercial export activities. Business processing is facilitated by the deliberate convergence of all front line export/investment promotion institutions such as Customs Division, Police Service, Immigration Service, Environmental Protection Agency and Domestic Tax Division into a one-stop shop.
For the Shama land bank, the enclave is good with a strategic location covering 3,200 acres of sea front land.
The GFZB intends to provide investment support in downstream refining, distribution, transit and supply chain business services including dominant operators in chemical production as well as manufacturing of by-products like plastics and jellies provided they are intended for export.
The Sekondi Export Processing Zone provides a good location for manufacturing and dealers in the by-products and accessories produced by those industries.
The Ashanti technology park is to evolve into a multi-purpose export processing zone where opportunities abound for investment in water production and distribution, electricity generation from thermal and bio-mass plants, telecommunications infrastructure and accessories manufacturing.