Accra 25 June 2015 – This World Investment Report 2015 has been launched in Accra. Published annually by UNCTAD since 1991, this year’s edition is title “Reforming International Investment Governance”. In attendance at the launching were participants from the media, public and private sector institutions.
Mr. Philip Cobbina, a lecturer of Business Policy and Strategy at Ghana Institute of Management and Public Administration presented the report. He highlighted on the tendency of multi-national companies to avoid tax by taking advantage of loop holes in the tax system and relocate resources that could be beneficial to the host country. For Ghana, he noted that “we probably cannot identify the companies that are avoiding taxes”. He therefore urged the Ghana Investment Promotion Centre (GIPC) and other related bodies to create a conducive atmosphere for such resources to be reinvested in the economy to facilitate growth.
Mr. Cobbina also cited findings in the report that global Foreign Direct Investment declined in the past year but is expected to make an upturn this year, he therefore advised that the economy be positioned to take advantage of the incoming opportunities.
Touching on the relevance of the report to Ghana, Mr. Cobbina said “as a country we either carry out research to validate the findings that matter to us or we fashion out modalities and policies to address the issues and challenges that affect us”.
Mr. Augustine Otoo, the Director of Research at GIPC presented on Ghana’s perspective on the theme. He outlined plans to attract resources and investment in the country, citing the One-Stop-Shop initiative that is aimed at reducing the frustration and lengthy paperwork that investors are uncomfortable with among other initiatives.
The Report was jointly launched by Philip Cobinna and Augustine Otoo.