Flagbearer of the National Democratic Congress (NDC), Former President John Dramani Mahama has said that as a rule, foreign direct investment (FDI) is influenced as much by external factors, such as wars or recessions in the major economies, as domestic factors, such as existing government policies and the overall business climate.
While Ghanaian authorities have no control over those external factors, he said, they have the power to deal with those domestic factors that militate against adequate inflows of FDI into Ghana.
The issue of FDI for Ghana is even more crucial now than ever., Mr Mahama said.
“With Ghana defaulting on international debt and being temporarily shut out of the global capital market, boosting FDI inflows for Ghana will be critical over the next four years,” he said at the Distinguished Speakers Series on Foreign Direct Investments on Thursday, August 29.
He used the occasion to reiterate his assurance to promote a business-friendly environment in Ghana if he is elected as President in this year’s elections.
“In conclusion, let me reiterate my pledge at the launch of my party’s manifesto that I will work tirelessly as President to reduce bureaucracies, promote transparency, simplify administrative and regulatory processes, and uphold the rule of law to create a friendly investment climate,” he said.
