Asanteman woos investors to support Otumfuo's 10-year dev't plan

Asanteman woos investors to support Otumfuo's 10-year dev't plan
Source: Ghana I Nhyira FM I Nana Asenso Mensah
Date: 07-05-2019 Time: 06:05:50:pm
One of the projects earmarked for Asantehene's 10-year dev't plan

The  Asanteman Council has called on investors to support Asantehene’s 10-year development plan.

The 10-year plan is meant to transform Kumasi into the heart of business and industrial production in the sub-region, Nana Agyenim Boaten, the Amoanamanhene.

Nana Agyenim Boateng, a leading member of the Council and member of planning committee of Asantehene's 20th anniversary, said this at the world-Meet-in-Ghana investor’s forum in honour of Asantehene as he celebrates 20 years on the Golden Stool.

It was under the theme "Ghana, a promising investment destination in Africa’.

The Asanteman Council called on investors at the forum to support Otumfour's 10-years development plan to transform Kumasi into an industrial hub.

"Otumfour has initiated policies with Ghana Export and Import Bank; among these is a way to reduce jute importation for which we have started Kenaf production. So we still want to let the investors know that there are still other serious ventures that when you come to Kumasi and Ashanti, the King is prepared to open up to you, " said the Amoamanhene.

Local investors bemoaned that, most medium scale foreign companies which operate in Ghana, escape taxes.

Majority of foreign investors are also not registered under the  Ghana Investment Promotion Centre.

Some local businesses lamented at the forum, the practice does not provide a level playing ground in doing business in the face of market competition.

"We have a lot of foreign businesses in Ghana who are not registered under GIPC because their stated capital are not up to the $2million benchmark. I think the Ministry of Finance must register all these investors under one umbrella and tax them at least every month [and] this will in turn, increase tax revenue for development," a local businessman, Nana Biibiba said.

Meanwhile, local businesses want government to turn attention to equipping their human resources to attract foreign investors to drive the economy.

Sika Twum, another a local Businesswoman notes: "I think what makes investors attracted to a country is their human capital and what the country has invested in their human capital. My contribution is that government should look at ways we can invest in the human capital and change the mindset of our people so that when investors come, human relation is good, customer service is good, and then you will know that you are putting your money into something valuable."