Free Zones on road to success

23 Jan '08

2 min read

The Ghana Board recently organized a forum for potential investors to inform them about the developments, advantages and incentives available in country's Free Zones.

The GFZB informed the investors that all companies put together in the Free Zones had generated an income of US $2.5 billion in the last 11 years. Last year the 150 industries clocked a turnover of over US $509.5 million.

The purpose of the forum, which was also attended by the Omanhene of New Juaben Traditional Area, Daasebre Prof. Emeritus Oti Boateng, was to inform the investors of the incentives available in the Free Zones. The GFZB had also invited the companies working in the Free Zones to understand the problems faced by them.

The 9 companies registered in the Free Zones in the Eastern Region were Maa Grace Garments, Crystal Lake Fish, A.K Wood. Intravenous Infusion, Blue Skies, Golden Exotics, Pinora, Coppon Wood and Birim Wood.

The Deputy Executive Secretary of GFZB in charge of Marketing and Promotion, Ms Rachel Esi Amable said, "It was important that local companies take advantage of the fertile ground created by the government under the Free Zones to operate companies that were export-oriented."

She noted since the Free Zones came into being under Act 504, many foreigners had taken advantage to establish companies under it, and were making great headway.

She said the Government conceived the idea, which was 100 percent private-sector driven, to help create employment and also boost the image of Ghana abroad in terms of goods being exported to other countries.

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