American Investors To Establish in New Export Processing Zone

A group of
investors into pharmaceuticals from the United States has expressed interest to
establish at the proposed new export processing zone at Kwamoso in the Akuapem
North District.

Mr. Michael Baafi, Chairman of the Ghana Free Zones
Authority, said the enclave would bring jobs to the people.

He added that they were almost done with all the paper
work to pave way for the light industrial processing zone.

 

Michael Baafi, Chief Executive Officer Ghana Free Zones Board (Photo: GFZB)

He dropped the news at the regional awards launch by
the Eastern Regional branch of the Ghana Journalist Association (GJA) in
Koforidua.

“Repositioning the Eastern Region for investment and
job creation, the role of the media” was the theme chosen for the event.

The initiative is meant to recognize and reward hard
working journalists and media houses in the region.

Mr. Baafi indicated that the government through the
free zones concept, was providing incentive packages including a 10-year
corporate tax holding, exemptions in direct and indirect export and import
duties to people who invested in export oriented businesses.

He called for indigenous Ghanaian businesses to take
advantage of these package to grow.

He encouraged journalists to focus priority on issues
relating to business development.

Mr. Maxwell Kudekor, the GJA Regional Chairman,
announced the setting up of a five-member awards committee, chaired by Dr.
Mohammed Jamal of the Koforidua Technical University, to receive and vet
entries.