Hannah Tetteh
Government has stated that despite its crave for more foreign direct investments in Ghana, it will not allow foreign traders to take advantage of small and informal businesses.
Hannah Tetteh, Minister of Trade & Industry, who was speaking at the inauguration of a reconstituted inter-agency task force that would monitor activities of foreign traders recently in Accra, said government expects investors to be fully compliant with the laws of the country.
She said government was concerned about the welfare of small and informal business investments and therefore would not countenance any attempts by foreign investors to hamper efforts by small traders.
She therefore cautioned Ghanaians, who assisted foreign nationals to frustrate small businesses to be careful since they would not be spared should they be caught.
According to her, members of the Ghana Union of Traders Association (GUTA) were part of the task force and would work hard to identify offenders.
The Ministry of Foreign Affairs, she noted, has been incorporated into the task force to deal with obstinate foreign nationals.
Ms Tetteh said the task force, which is chaired by her outfit, has been charged to ensure compliance with Ghana Investment Promotion Center (GIPC) Act 478 of 1994 by foreign nationals.
Section 18 of the Ghana Investment Promotion Centre Act, 1994 reserves retail trading at market places exclusively for indigenous businesses.
The same provision requires foreign businesses to undertake large-scale value-added trading.
Membership of the task force covers the Ghana Revenue Authority (GRA), Ghana Immigration Service, Ghana Police Service, GIPC, Social Security & National Insurance Trust (SSNIT) and the Registrar General’s Department.
By Samuel Boadi
