As part of efforts to create a platform for members of the diplomatic corps to dialogue on improving the investment climate in Ghana, the Ghana Investment Promotion Centre organized the 6th edition of its Economic Counsellors Dialogue on 5th April 2019. This year’s dialogue was held under the theme “Improving the Ease of Doing Business in Ghana: Immigration Laws, Technology Transfer Agreements and Double Taxation Agreements”.
Addresses were delivered by Ambassador Albert Yankey- Chief Director, Ministry of Foreign Affairs and Regional Integration, Mr. Laud Ofori Affrifah – Deputy Comptroller of Operations, Ghana Immigration Service, Mr. Eric Mensah- Assistant Commissioner, Legal Affairs and Treaties, Ghana Revenue Authority and Mrs. Naa Lamle Orleans-Lindsay- Head of Legal Division, GIPC.
Mr. Laud Ofori Affrifah, the Deputy Comptroller of Operations at the Ghana Immigration Service, who spoke on the topic Immigration Laws, stated that all work and residence permits are issued within 7 days, in a bid to ease the Investor’s immigration process.
In addition, he made it clear that the GIS was working towards reducing the processing time to 48 hours by end of June 2019. He further indicated that the GIS would soon introduce a system to link up the investment promotion and regulatory bodies including GIPC, the Ghana Free Zones Board and Registrar General’s Department electronically to reduce the duration of processing documents.
Speaking on the topic Technology Transfer Agreements, Mrs. Orleans- Lindsay – Head of Legal at the GIPC, highlighted the registration and renewal of TTAs under the legislation of the GIPC Act, and the general challenges affecting its implementation.
Mr. Eric Mensah, the Assistant Commissioner in charge of Legal Affairs and Treaties at the Ghana Revenue Authority, touching on the topic of Double Taxation Agreements, said that the Government has signed double taxation agreements with 10 countries towards giving investors a stable and conducive tax scheme. These agreements have been signed with Belgium, Denmark, France, the United Kingdom, Switzerland, Mauritius, South Africa, Italy, Netherlands and Germany. He added that the Government hopes that the signing of such agreements will encourage investments and in turn, facilitate the transfer of skills and technology into Ghana.
An interactive session ended the Dialogue with discussions centred on the review of the GIPC Act, Visa on Arrival procedures and general overview of Technology Transfer Agreements in Ghana.
The Economic Counsellors’ Dialogue, organized for the Trade, Economic and Commercial sections of all foreign Embassies, High Commissions and Consulates in Ghana seeks to discuss mutually beneficial avenues of collaboration with reference to participation in investment promotion missions, and working with business and industrial chambers in their respective countries.