By Iddi Yire
Accra, Aug 28, GNA – President John Dramani Mahama has reaffirmed Ghana’s investment potential in a historic three-day state visit to Singapore.
“Under my leadership, Ghana will be a trusted, open and reliable investment partner,” President Mahama said in his keynote address at the Ghana–Singapore Business Forum in Singapore City during his three-day state visit I the Southeast Asian country.
The Forum was on the “Accelerating Ghana’s Infrastructure for Economic Transformation”.
President Mahama said to give effect to this vision, he had directed the Attorney-General and the Minister of Finance to lay before Parliament two landmark bills: the Revised Ghana Investment Promotion Centre (GIPC) Bill and the legal framework establishing the 24-Hour Economy Authority.
He noted that in the revised act, they had included the Most Favoured Nation (MFN) Treatment, Fair and Equitable Treatment (FET), and Investment Facilitation to make Ghana one of the most business-friendly destinations on the continent.
These reforms, he noted, were not just legal instruments; but also, a statement of the government’s commitment to building a dynamic, inclusive and globally competitive economy.
President Mahama reiterated that Ghana was a pro-enterprise state under his administration.
He announced that the government was in the process of simplifying permits, digitising customs, and de-risking bankable projects through viability gap funding, government support, and Multilateral Investment Guarantee Agency (MIGA)-backed guarantees, while ensuring the repatriation of profits and foreign-exchange convertibility.
The President said Ghana is abundant with a young and skilled workforce; adding that the government’s investment in Technical and Vocational Education Training (TVET), Science, Technology, Engineering and Mathematics (STEM), and digital skills was tailored to industry needs—from advanced manufacturing and agri-tech to power systems and data centres.
“Our proposition to you today is clear: Ghana offers market access, a stable and reform-oriented environment, and a pipeline of bankable projects in manufacturing, agribusiness, and infrastructure—ready for investment with defined risk-mitigation and credible partners,” he stated.
Touching on priority sectors and bankable opportunities, the President mentioned Greater Accra Industrial Platforms Expansion; utilities and last-mile infrastructure to scale export-focused industrial parks at Tema and Dawa.
He also mentioned opportunities for a utility services concession, build-own-operate warehousing, and anchor manufacturing (pharma, packaging, consumer goods).
He said incentives include benefits from Free Zones and accelerated capital allowances.
With regards to Ghana Pharma and Medical Supplies Initiative, he said a sterile fill-finish and generics manufacturing cluster in Tema, co-located with cold-chain logistics, supported by the Food and Drug Authority’s (FDA) strengthened regulatory framework.
Others are Automotive and e-Mobility Assembly, Northern Ghana Irrigated Agro-Industrial Zone and Cashew and Tree Crops Processing Clusters; stating the expansion of cashew, shea, and cocoa value addition in Bono and Ashanti—de-shelling, butter, liquor and specialty products.
The President said the strategic partnerships with established traders and processors, combined with access to African Continental Free Trade Area (AfCFTA) rules of origin, open opportunities to tap into regional demand.
President Mahama said Ghana views Singapore as a partner whose discipline, innovation, and long-term thinking aligns with their own aspirations.
“Today, I invite you to join us in a practical partnership to accelerate Ghana’s infrastructure for economic transformation, and through Ghana, to help shape the next chapter of growth across West Africa under the African Continental Free Trade Area,” he said.
He added :“Why Ghana, Why Now We are a regional hub. Accra hosts the AfCFTA Secretariat and is developing the logistics, standards, and digital infrastructure to serve a market of 1.3 billion, worth over USD 3.4 trillion.”
He said using Ghana as a hub, investors could efficiently and competitively reach an ECOWAS market of over 400 million consumers in a shorter timeframe.
“We are pursuing a reform path with predictability: We are strengthening macro stability and fiscal discipline, modernising revenue systems, and applying clear, rules-based frameworks for public private partnerships (PPPs) and private capital,” the President announced.
Also, the government has amended the public procurement law and streamlined approvals under the GIPC Act to provide fast, transparent pathways for investment.
GNA
Edited by Benjamin Mensah