Companies and investors who set up factories outside Accra will benefit from tax incentives under a new government strategy to decentralise industrial development.
The Deputy Minister of Finance, Mr Thomas Ampem Nyarko, disclosed this when the Ministry of Finance appeared before Parliament’s Economic and Development Committee yesterday.
He explained that the policy forms part of a broader plan to ensure a fairer distribution of economic opportunities across the country.
Mr Nyarko noted that the heavy concentration of industries in Accra had fuelled rural-urban migration, congestion and uneven development. He said the government was determined to reverse the trend by encouraging investors to move beyond the capital.
He added that the incentives would be guided by data to ensure they were well targeted and effective in stimulating growth in underserved areas.
According to him, the tax relief would be structured to attract serious investors prepared to commit to sustainable operations, adding that government would closely monitor compliance to ensure beneficiaries contribute meaningfully to local economies.
Mr Nyarko further stated that the policy was expected to ease pressure on infrastructure in Accra while accelerating development in other regions. He said spreading industrial activity would help improve living standards and reduce inequality.
He emphasised that the initiative went beyond tax incentives, noting that it would be supported by improvements in infrastructure, access to credit and skills training.
The Deputy Minister assured the committee that government remained committed to building a resilient economy anchored on data-driven policies and inclusive growth. He urged stakeholders to support the long-term plan, describing it as key to Ghana’s sustainable development.
For his part, the Chairperson of the National Development Planning Commission (NDPC), Dr Nii Moi Thompson, outlined a long-term development vision for the country.
He said the plan sought to promote balanced growth across all regions, with industrial hubs to be established at strategic locations to harness local resources and create jobs.
Dr Thompson added that the Commission was working closely with ministries and agencies to align policies with the national development agenda.
BY BENJAMIN ARCTON-TETTEY
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