Thursday 30th April 2024 – The Ghana Investment Promotion Centre (GIPC) convened a meeting with Ambassadors, economic counsellors, and investors at the Centres Economic Councellors dialogue, held at the Labadi Beach Hotel. The discussion focused on the theme: Navigating the evolving landscape of international investment agreements.
In his opening remarks, the CEO of the GIPC, Yofi Grant, emphasized the critical role of international agreements in facilitating investments. He highlighted that these agreements provide a mechanism for the facilitation of investments and create a better environment for stakeholders to trade and invest. Mr. Grant also reiterated Ghana’s commitment to creating a conducive business environment, stating, “Ghana is open for business, and we are negotiating our business environment for our mutual benefit.”
Special guest at the event, the Minister of Foreign Affairs, Hon. Shirley Ayorkor Botchway, emphasized the need to review Ghana’s existing agreements to ensure they align with the dynamic changes in the global economic landscape. Hon Ayorkor Botchway went on to highlight various innovations undertaken by the government to ensure a dynamic and favorable business environment for foreign investors. She mentioned initiatives such as the e-business registration system, paperless port clearance system, digital address system, mobile money interoperability system, and a national identity card system which are crucial in sustaining foreign investments.
Naa Lamley Orleans-Lindsay, Head of Legal at the GIPC, provided insights into Ghana’s approach to international investment treaties. She explained the shift towards renegotiating older agreements ie. Bilateral Investment Treaties (BITs) in favor of establishing new generation BITs that better reflect current economic realities. Orleans-Lindsay emphasized Ghana’s adoption of ‘New Generation’ BITs, aiming to achieve a more balanced approach by incorporating provisions that reflect the broader policy objectives of host governments, such as sustainable development goals for investments.
The meeting provided a platform for open dialogue and collaboration, underscoring Ghana’s commitment to fostering a conducive investment environment and promoting mutually beneficial partnerships with international stakeholders.
