The Petroleum Hub Development Corporation has announced that it is working closely with other agencies in the energy sector to streamline the registration process from 300 days to 30 for energy sector players seeking to operate in Ghana.

To this end, the Corporation has assembled various agencies within the energy sector to dialogue and deliberate on how to reduce the registration process for investors in the petroleum sector.

Speaking to Joy Business, Chief Executive of the Petroleum Development Corporation, Dr. Toni Aubynn, emphasised that the corporation is committed to working closely with other agencies to eliminate unnecessary bureaucratic hurdles and ensure a seamless registration process.

“When you want to attract investments into these areas, you don't want them to go through the old-fashioned bureaucratic inertia that investors go through. Our studies have shown that to get all the permits to establish a petrochemical plant, you may have to spend over 300 days.

"Which investor does that? Sometimes, 400 days you have to go through all the bureaucracy, the EPA, the petroleum commission, the petroleum authority, and all that. So we are here to try and see how we can cut down on the bureaucracies, so that we will shorten the permitting time without compromising the quality or the requirement of a permit," he told journalists.

According to the Chief Executive of the Petroleum Hub Development Corporation, Dr. Toni Aubynn, this will enable potential investors to navigate the system more efficiently and make informed decisions about investing in the petroleum hub.

He tells Joy Business that, already, some investors have shown interest in the Petroleum hub.

Delivering an address at the Inter-Agency Dialogue, Minister of Trade, Industry and Agribusiness, Elizabeth Ofosu-Adjare, assured investors of the government’s commitment to creating a more investor-friendly environment, making it easier and faster for companies to set up operations in the country.

"To our teeming investor sharing presence, we're working closely with PHDC and relevant ministries to eliminate bureaucratic bottlenecks. We are committed to fast-tracking approvals for trade-related permits and certificates linked to the petroleum hub.

"At the Ministry of Trade, Agri-business and Industry, we have a Business Regulatory Reforms Unit, which is the one-stop shop for our investors if you want land registration. If you want a permit, it is a one-stop shop anytime you are thinking investment in Ghana. Be there in and sure that everything will be done expeditiously for you," she explained.

Managing Director of the Tema Oil Refinery, Dr. Yusif Sulemana said the execution of the petroleum hub will enhance efficiency in the petroleum sector.