Presented by<br />EDWARD ASHONG-LARTEY<br />DIRECTOR, MARKETING AND PUBLIC RELATIONS<br />GHANA INVESTMENT PROMOTION CENTR...
GHANA INVESTMENT PROMOTION CENTRE<br />2<br />The Ghana Investment Promotion Centre (GIPC) is a government agency re-estab...
Minerals Commission - Mining of activities
Ghana National Petroleum Corporation- Petroleum exploration and production
Ghana Export Promotion Council-  Export of Non-traditional products
Divestiture Implementation Committee -  Divestiture of state-owned enterprises</li></li></ul><li>3<br />GHANA’S INVESTOR F...
Continuous, stable multi-party political environment since 1992
Continuous macro-economic stability
 Competitive corporate tax rates in the sub region
Fast developing financial infrastructure, institutions and services
Abundant supply of skilled and trainable labour
Proximity to both the European and American markets</li></li></ul><li>4<br />
5<br />
6<br />TOTAL REGISTERED PROJECTS (SEPT 1994 –  JUNE 2011)<br />
PRIORITY SECTORS FOR INVESTMENT IN GHANA  <br />Oil and Gas Services<br />Energy<br />Infrastructure<br />Agric and Agric-...
OIL AND GAS SERVICES <br />8<br />GHANA’S ESTIMATED FIELD SIZE: 400 MILLION BARRELS TO OVER 1 BILLION BARRELS (ALL IN THE ...
THIS IS EXPECTED TO INCREASE TO 120,000  IN EARLY 2012.
 CURRENT ASSOCIATED GAS PRODUCTION IS 60 MILLION CU/FT  PER DAY
THIS IS EXPECTED TO INCREASE TO 250 MILLION CU/FT  PER DAY BY DECEMBER 2014.</li></li></ul><li>OIL AND GAS SERVICES <br />...
 It currently has five wells on which various appraisal works are being done.</li></li></ul><li>OIL AND GAS SERVICES <br /...
Rig operations
Logistics and Equipment supply
Office accommodation for numerous oil service companies
Helicopter and fixed wing aircraft transportation
Supply boats, anchor handling boats, diving vessels, etc
Telecommunications, weather forecasting, search and rescue facilities
Restaurants , catering , vehicle rental  and security services
Financial Services (Banking and Insurance Services)
Services </li></ul>10<br /><ul><li>LNG pressure vessels
Construction, installation and commissioning of offshore structures
Pipeline manufacturing from steel
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Finpro presentation on doing business in ghana Edward Ashong-Lartey

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Finpro Ghana-seminaarin 7.9.2011 esitysmateriaali.

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Finpro presentation on doing business in ghana Edward Ashong-Lartey

  1. 1. Presented by<br />EDWARD ASHONG-LARTEY<br />DIRECTOR, MARKETING AND PUBLIC RELATIONS<br />GHANA INVESTMENT PROMOTION CENTRE (GIPC)<br />1<br />GHANA-FINLAND BUSINESS SEMINAR <br />7TH SEPTEMBER, 2011, HELSINKI, FINLAND<br />PRESENTATION ON DOING BUSINESS IN GHANA<br />
  2. 2. GHANA INVESTMENT PROMOTION CENTRE<br />2<br />The Ghana Investment Promotion Centre (GIPC) is a government agency re-established in 1994 under Act 478 to promote and facilitate investment in the economy of Ghana.<br />We work in collaboration with the following Agencies;<br /><ul><li>Ghana Free Zones Board - Free zones activities
  3. 3. Minerals Commission - Mining of activities
  4. 4. Ghana National Petroleum Corporation- Petroleum exploration and production
  5. 5. Ghana Export Promotion Council- Export of Non-traditional products
  6. 6. Divestiture Implementation Committee - Divestiture of state-owned enterprises</li></li></ul><li>3<br />GHANA’S INVESTOR FRIENDLY ENVIRONMENT<br /><ul><li>The country has witnessed five peaceful elections since 1992
  7. 7. Continuous, stable multi-party political environment since 1992
  8. 8. Continuous macro-economic stability
  9. 9. Competitive corporate tax rates in the sub region
  10. 10. Fast developing financial infrastructure, institutions and services
  11. 11. Abundant supply of skilled and trainable labour
  12. 12. Proximity to both the European and American markets</li></li></ul><li>4<br />
  13. 13. 5<br />
  14. 14. 6<br />TOTAL REGISTERED PROJECTS (SEPT 1994 – JUNE 2011)<br />
  15. 15. PRIORITY SECTORS FOR INVESTMENT IN GHANA <br />Oil and Gas Services<br />Energy<br />Infrastructure<br />Agric and Agric-business<br />Manufacturing and Industry<br />Tourism<br />Information Communication Technology <br />Financial Services<br />7<br />
  16. 16. OIL AND GAS SERVICES <br />8<br />GHANA’S ESTIMATED FIELD SIZE: 400 MILLION BARRELS TO OVER 1 BILLION BARRELS (ALL IN THE JUBILEE FIELD)<br />PUMPING OF OIL COMMENCED ON 15 DECEMBER 2010:<br /><ul><li> CURRENT OIL PRODUCTION IS 80,000 BARRELS PER DAY.
  17. 17. THIS IS EXPECTED TO INCREASE TO 120,000 IN EARLY 2012.
  18. 18. CURRENT ASSOCIATED GAS PRODUCTION IS 60 MILLION CU/FT PER DAY
  19. 19. THIS IS EXPECTED TO INCREASE TO 250 MILLION CU/FT PER DAY BY DECEMBER 2014.</li></li></ul><li>OIL AND GAS SERVICES <br />9<br />OTHER LANDMARK DISCOVERIES<br />Other landmark discoveries are Owo, Tweneboa, Mahogany Deep and Odum in the Deepwater Tano block and West Cape Three Points.<br />There is also the Dzata find in a block south of the Eni/Vitol block,“<br />These discoveries are being appraised at the moment to determine the potential reserves.<br /><ul><li> Reports estimate the Mahogany field to hold between a hundred and five hundred million barrels of crude.
  20. 20. It currently has five wells on which various appraisal works are being done.</li></li></ul><li>OIL AND GAS SERVICES <br /><ul><li>Dedicated shore base with a dedicated mini harbor
  21. 21. Rig operations
  22. 22. Logistics and Equipment supply
  23. 23. Office accommodation for numerous oil service companies
  24. 24. Helicopter and fixed wing aircraft transportation
  25. 25. Supply boats, anchor handling boats, diving vessels, etc
  26. 26. Telecommunications, weather forecasting, search and rescue facilities
  27. 27. Restaurants , catering , vehicle rental and security services
  28. 28. Financial Services (Banking and Insurance Services)
  29. 29. Services </li></ul>10<br /><ul><li>LNG pressure vessels
  30. 30. Construction, installation and commissioning of offshore structures
  31. 31. Pipeline manufacturing from steel
  32. 32. Welding and Joinery
  33. 33. Assembling of knocked down structures in yards in Ghana
  34. 34. Real estate construction and management </li></li></ul><li>OIL AND GAS SERVICES <br />Measures against negative impact of the oil sector on the communities in the catchment area include:<br /><ul><li>Implementation of a no-gas flaring policy
  35. 35. Local Content Requirements for the Petroleum Sector -- investors will be expected to utilize a percentage of Ghanaian human and material resources .
  36. 36. Environmental Health and Safety Plan (EHS) -- A comprehensive environmental health and safety policy for this sector is being developed.</li></ul>TAKORADI, GHANA <br />11<br />
  37. 37. ENERGY <br /><ul><li>Government’s major energy policy (electricity) - Universal access to electric power by 2020.
  38. 38. Current Status is -1980 mw, and it is government’s policy to increase to 5000 mw by 2015.
  39. 39. Current electricity penetration is 60% and 100% penetration is expected to be achieved by 2020.
  40. 40. To fill the 3000 mw demand, government is ready for partnerships with private sector. </li></ul>CONSTRUCTION OF SUNON ASOGLI POWER PLANT, GHANA<br />12<br />
  41. 41. ENERGY<br />Pursuing a renewable energy generation target of 10% of total production and the renewable resources to be promoted include solar, wind, mini-hydro and bio fuels.<br />The first 133MW of the 400MW Bui Hydro project is expected to be commissioned by the end of 2011, with the total installed capacity of 400MW being commissioned by end of 2012.<br />Government of Ghana is actively promoting Independent Power producers in the country. Major projects:<br /> -Sunon-Asogli Power Plant-200MW<br /> -TemaOsonor Plant Ltd- 126 MW and eventually to 300 MW<br /> -Kpone Thermal IPP Project-220 MW<br />13<br />
  42. 42. ENERGY <br /><ul><li>Energy services provision (energy audits & energy management strategies, electrical load management, boiler efficiency/heat recovery, refrigeration and air conditioning systems, fuel substitution)
  43. 43. Energy manufacturing companies to supply energy-monitoring equipment
  44. 44. Alternative decentralized sustainable energy system to be deployed in remote and deprived communities
  45. 45. Solar energy systems for schools in off-grid communities</li></ul>14<br />
  46. 46. INFRASTRUCTURE <br />Roads<br />Public Housing And Property Development <br />Rail Transport And Ports<br />HERITAGE TOWERS, ACCRA <br />ACCRA-TEMA RAILWAY LINES <br />SILVER STAR TOWER AREA, ACCRA <br />15<br />
  47. 47. INFRASTRUCTURE – ROADS <br /><ul><li>Provision of efficient and effective mass transport facilities in all regions of Ghana.
  48. 48. Construction of toll roads, bridges and rapid transit routes in cities encouraged.</li></ul>KWAME NKRUMAH CIRCLE (BY NIGHT), ACCRA <br />16<br />
  49. 49. INFRASTRUCTURE – PUBLIC HOUSING & PROPERTY DEVELOPMENT <br /><ul><li>Level of Investment – Est. Cost of Deficit at US$7.5 billion
  50. 50. Deficit = 500,000 units (with oil discovery, deficit is estimated to be around 1,000,000 units)
  51. 51. Annual Demand = 140,000 unit
  52. 52. Annual supply = 40,000 units
  53. 53. Level of Investment required = US$ 7.5bn</li></ul>a. Construction<br /><ul><li>Residential (low cost housing, high rise luxury apartments, retirement villages)
  54. 54. Industrial (light industrial parks, warehousing facilities)
  55. 55. Commercial (regional shopping centres/malls, office accommodation, storage) </li></ul>b. Production and marketing of construction equipment and building materials<br />PPP: The Government of Ghana has signed housing agreement with STX-Korea to build 200,000 housing units in 5 years with investment value of US$ 10 billion . <br />H.E President J.E. A. Mills on Thursday, 27 January 2011 cut the sod for the start of construction of the 30,000 STX housing units for the security services.<br />VILLAGIO APARTMENTS <br />17<br />
  56. 56. INFRASTRUCTURE – RAILWAYS & PORTS <br /><ul><li>Rehabilitation of existing railway infrastructure mainly tracks, bridges , signals and telecommunication systems.
  57. 57. Modernization of existing railway, expansion to cover whole country especially linking south to the north.
  58. 58. Modernization of suburban railway services currently operating between Accra and Nsawam, expansion to other areas within Accra-Tema Metropolis using Diesel Multiple Units (DMUs).</li></ul>18<br /><ul><li>Expansion and modernization of Tema and Takoradi ports – US$ 1.5 billion
  59. 59. Creation of Inland Port at Boankra, near Kumasi
  60. 60. Creation of river port at Buipe, Northern Region (on the Volta river)</li></ul>TEMA PORT <br />
  61. 61. AGRIC AND AGRO PROCESSING <br /><ul><li>Production of agricultural inputs: fertilizers, pesticides and fungicides
  62. 62. Storage facilities: avoidance of high post-harvest losses and low returns for farmers and processors
  63. 63. Developing irrigable land through irrigation. Ghana has potential irrigable area of 346,000 hectares, only 10,000 hectares has been developed
  64. 64. Technological and support services: supply and installation of cold chain equipment, packaging , factory building technology
  65. 65. Distribution services: post-production services in transport, packaging and cold vans
  66. 66. Standards, training and certification; capacity building for management and market-oriented enterprises; market intelligence research , agricultural finance and insurance</li></ul>19<br /><ul><li>Large scale farming of crops
  67. 67. Supply of machinery to establish hatcheries for day-old chicks
  68. 68. Floriculture: cultivation of exotic flowers, potential in national, regional and European Union market</li></li></ul><li>MANUFACTURING AND INDUSTRY <br /><ul><li> Food processing
  69. 69. Cocoa processing
  70. 70. Pharmaceuticals
  71. 71. Textiles and garments
  72. 72. Wood processing and manufacturing
  73. 73. Salt production
  74. 74. Production of electrical wirings and electronic products</li></ul>PAPSO DRINKS <br />PHARMACY <br />GHANAIAN KENTE CLOTH <br />20<br />
  75. 75. TOURISM <br />3rd largest source of foreign exchange earning after, Gold and Cocoa <br />GOLDEN TULIP, ACCRA <br />21<br />
  76. 76. TOURISM <br /><ul><li>Tourist Accommodation -- (multi-hotel resorts, single-hotel resorts, business hotels, lodges and inns, motels, hostels, camping sites)
  77. 77. Tourist Information Shops
  78. 78. Tourist Transport Services
  79. 79. Tourist Travel Services
  80. 80. Tourism Financial Services
  81. 81. Tourism Medical Services
  82. 82. Food and Beverage Services
  83. 83. Entertainment
  84. 84. Leisure and Sports
  85. 85. Shopping
  86. 86. Meeting Facilities</li></ul>KINTAMPO WATERFALLS <br />22<br />
  87. 87. INFORMATION COMMUNICATION TECHNOLOGY <br />23<br />
  88. 88. INFORMATION COMMUNICATION TECHNOLOGY <br /><ul><li>Transaction Processing
  89. 89. Manufacturing, assembling and supply of computers and accessories
  90. 90. VSAT services
  91. 91. E-commerce and Legal Database Services
  92. 92. Logistics Management Services and Medical Transcription Services
  93. 93. Education: software development, networking, VSAT, telecom and IT Engineering
  94. 94. Production of Business Solutions (software and networking services)
  95. 95. Business Processing Outsourcing
  96. 96. Supply of High-Tech Telecommunication Equipments
  97. 97. Back Office Operations ( especially for Financial Institutions)
  98. 98. Telephony – rural and fixed lines
  99. 99. Internet Service Provision Service</li></ul>BUSYINTERNET, ACCRA <br />24<br />
  100. 100. FINANCIAL SERVICES <br />Opportunities <br /><ul><li>Universal banks
  101. 101. Development banks
  102. 102. Insurance companies
  103. 103. Reinsurance companies
  104. 104. Mortgage finance institutions
  105. 105. Leasing companies
  106. 106. Venture capital companies
  107. 107. Hire purchase companies
  108. 108. Export finance companies
  109. 109. Investment banks
  110. 110. Mutual funds
  111. 111. Investment trusts
  112. 112. Savings and loans companies</li></ul>25<br />
  113. 113. INVESTMENT INCENTIVES AND GUARANTEES- PROVIDED UNDER GIPC ACT 478<br />26<br /><ul><li>Custom duties exemptions for plant, machinery, equipments and parts thereof
  114. 114. Graduated and reasonable corporate taxes
  115. 115. Location incentives of between 25%-50% tax rebates for manufacturing companies
  116. 116. Tax holidays ranging from 5-10 years depending on sectors</li></ul>Automatic immigrant quotas depending on paid-up capital <br />Other attractive tax concessions such as accelerates depreciation for plant and buildings, five-year loss carry-over and R & D expenditure deductibility <br />Relief from double taxation for foreign investors and employees where applicable <br />
  117. 117. INVESTMENT INCENTIVES AND GUARANTEES- PROVIDED UNDER GIPC ACT 478<br />27<br /><ul><li>Full repatriation of dividends and net profit attributed to investment
  118. 118. Transfer of funds in respect of servicing of foreign loans
  119. 119. Guarantee against expropriation ( also enshrined in the Constitution of Ghana)
  120. 120. Remittance of proceeds in the sale or liquidation of investment</li></li></ul><li>INCENTIVES FOR SPECIAL INVESTMENT<br />28<br />For the purpose of promoting identified strategic or major investments, the Board in consultation with the appropriate agencies as the Board may determine and with approval of the President, negotiate specific incentive package in addition to the incentive provided under section 23 & 24 of the GIPC Act. <br />
  121. 121. PROCEDURE FOR STARTING A COMPANY IN GHANA<br />Step 1 - Registration with Registrar<br /> General's Department   <br />Incorporate your company at the<br />Registrar General's Department and<br />obtain the following :<br />1. Certificate of Incorporation<br /> 2. Certificate to Commence Business<br /> 3. Company Regulations<br /> The Registrar General’s Department<br />takes up to five working days to<br />complete formalities if all documents<br />are in order.<br />Step 3 - Registration with GIPC<br />You registers with<br />the Ghana Investment<br />Promotion Centre. <br />This process takes up to five<br />statutory working days to<br />complete, provided all<br />documents are in order.<br />Registration with the GIPC<br />entitles Investor to the<br />Incentives and Guarantees<br />underthe GIPC Act 478<br />Step 2 - Minimum Equity<br /> Contribution<br />Compliance with GIPC Act 478<br />regarding minimum equity<br />requirements either in cash or in kind<br />as follows:<br /><ul><li>Joint Venture - US$ 10,000 </li></ul>                  <br /><ul><li>100% Foreign-Owned- US$ 50,000 
  122. 122. Trading Enterprises- US$ 300,000     </li></li></ul><li>CONTACT <br />The Chief Executive Officer <br /> Ghana Investment Promotion Centre (GIPC)Postal Address: GIPC, P. O. Box M193 Ministries, Accra, Ghana<br /> Location: Public Services Building<br /> Ministries, Accra, Ghana<br /> Tel: +233 302 665125-9<br /> Fax: +233 302 663801<br />Email: info@gipcghana.com<br /> Website: www.gipcghana.com<br />30<br />
  123. 123. THANK YOU FOR <br />YOUR ATTENTION<br />31<br />

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