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GIPC Signs MoU With SADA To Attract Development To The North
 
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17-Nov-2017  
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The Ghana Investment Promotion Centre (GIPC) has signed a Memorandum of Understanding (MoU) with the Savannah Accelerated Development Authority (SADA) to facilitate investment in northern Ghana for the accelerated development of the area.

Under the agreement, the two agencies would collaborate to showcase multiple investments with the SADA zone, in a bid to increase the influx of foreign direct investment into the zone.

The MoU lays out plans for SADA to develop a one-stop information platform that would provide expanded, in-depth local support and up-to-date information to investors keen to explore possibilities on offer in the area.

The Zone's arable land suitable for agriculture and agro-processing is high on the list for promotion and investment, and there are opportunities in providing supporting infrastructure and services.

The GIPC would in turn market the investment projects developed by SADA to local and international business communities.

Both parties would also plan and implement joint investment promotion missions, road shows, and forums both locally and internationally.

The duo, would also undertake joint research and feasibility studies on making the area more attractive, broadening the landscape for investors, as well as finding methods to reduce and remove constraints to investment through policy and incentives.

Mr Charles Abugre, the Chief Executive Officer, SADA, said: "Ghana and the SADA zone are rich, viable investment destinations that provide dynamic, yet stable business opportunities for investors looking to enter the West Africa Market".

"Investors can reach deep into the Sub-region as well, as the zone is a fantastic launching pad for the West African interior and we are looking forward to actively engaging businesses on how they can help drive growth in the zone."

He said the Northern Development Authority would soon be replacing SADA; adding their objectives were almost the same.

Mr Yofi Grant, the Chief Executive Officer, GIPC, said: "This is the start of an important leap forward for SADA. The zone is working to maximise its potential and making the concerted effort to reach out to local and international investors, who have an interest in conducting business in the zone, thanks to its many appealing factors."

"The GIPC is ready to provide its assistance in pulling these potential financiers and businessmen into the area to bolster the zone's economy," he added.

SADA is an independent agency for coordinating a comprehensive development agenda of the northern savannah ecological zone in Ghana.

The GIPC is the government agency responsible under the GIPC Act, 2013 (Act 865) to encourage and promote investments in Ghana.

Madam Mavis Hawa Koomson, the Minister for Special Development Initiatives, in a speech read on her behalf, said the establishment of the three development authorities under her Ministry, was to enable the Government to accelerate the development process and ensure inclusive growth that would lead to job creation, equal opportunity and prosperity for all.

She, therefore, urged SADA and GIPC to continue to work closely together to enable Ghana achieve an accelerated socioeconomic transformation.

"The future envisage for the next generation is one that must be sustainable, inclusive and innovative. High level of investment will, therefore, enable Ghana achieve this feat," she stated.
 
 
 
Source: GNA
 
 

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