Free Zones to Create More Jobs

Chief Executive Officer of the Ghana Free Zones Board, Michael Okyere Baafi, has noted that the board will be contacting foreign companies with the financial muscle to invest in the free zones enclave as a way of creating more jobs for Ghanaians.

According to him, there are several incentives within Ghana’s free zones enclave which will attract foreigners to invest in the Ghanaian economy as a way of creating jobs for the youth.

He said apart from the 10-year tax holiday the companies enjoy, they also don’t pay withholding tax or duties on materials they import into the country.

He told chief Jerry Forson, host of Ghana Yensom on Accra 100.5FM on Monday, 5 March that: “The Free Zones Act, Act 504, 1995 indicates that any company operating within the free zones enclave must employ more Ghanaians and we will ensure that it is done.

“The free zones is championing the agenda of local persons to enable Ghanaians improve on their lifestyle. We will target investor promotion, we will target people who have the financial muscle to come and create jobs for Ghanaians.”

He added: “There are a number of incentives that attract foreign investors into Ghana’s free zones enclave. You enjoy 10 years tax holidays, you also don’t pay withholding tax import and export tax or duties in raw materials.”

Source: Classfmonline.com