GFZA: We will aggressively pursue an export-led industrial growth

The Ghana Free Zones Authority (GFZA) has said it will aggressively pursue an export-led industrial growth in the coming weeks.

This is aimed at reversing the balance of trade deficit and the continuous depreciation of the Ghana cedi.

Speaking at a media launch of the 3rd Annual Investment Week in Accra, the CEO of the GFZA, Amb Mike Oquaye Jnr said “The theme was chosen to reflect the government’s focus on export-led industrialization and the Africa Continental Free Trade Area Agreement (AfCFTA) implementation.”

“As a country, we are currently grappling with a balance of trade deficit and the depreciation of our national currency. Therefore, we must increase our exports to earn the needed foreign exchange to stabilise the cedi,” he said.

Oquaye also said plans are far advanced for the establishment of a free zones industrial park in the Western Region to boost industrialisation in the region.

He noted, “With the opportunities that AfCFTA also offers, we are encouraging Ghanaian-owned businesses to take advantage of the 1.3 billion African markets to expand their activities. The impact of these achievements on the economy cannot be overemphasized.

With regards to development of the designated SEZs, under my leadership, the Authority has signed a memorandum of understanding with a private developer for the development of about 1,500 acres of land designated in Yabiw/Shama in the Western Region.”

The 3rd Annual Investment starts from 5th to 9th December.

The week-long celebration will see the GFZA engaging the media and the business community through roadshows, one-on-one interactions, interviews, organized enclave/SEZ visits, and many more.

The celebration will climax with a CEO’s networking session to be attended by senior government officials, ministers of state, CEOs, and captains of industry at the Marriott Hotel on 7 December 2022.

The 3rd Annual Ghana Free Zones Investment Week meeting will discuss a pathway for supporting exporters to optimize exports within Africa and beyond.