Ghana is intensifying efforts to attract foreign investment in its textile and apparel industry as the Ghana Free Zones Authority (GFZA) hosted a delegation from Yintak Intex, an Asian intimate apparel manufacturer, to explore investment opportunities under the country’s Free Zones Scheme. The meeting was facilitated by the Tony Blair Institute for Global Change (TBI), providing Yintak Intex with a platform to assess Ghana’s business environment and the advantages of operating within the Free Zones Scheme.
Welcoming the delegation, Dr. Mary Awusi, CEO of GFZA, praised TBI’s continued role in promoting Ghana’s Free Zones at major textile and apparel-focused events and facilitating the establishment of textile companies within the Scheme.
She highlighted Ghana’s competitive advantages, citing Ghana’s strategic location, political stability, youthful and literate workforce, and investor-friendly policies, including the repatriation of dividends, as an attractive destination for manufacturers.
Dr. Awusi also outlined the generous incentives available under the Free Zones Scheme, with Ghana’s access to key trade agreements, including; African Continental Free Trade Area (AfCFTA), African Growth and Opportunity Act (AGOA) and the Economic Partnership Agreement (EPA). These agreements, she noted, provide duty-free and quota-free access to regional and global markets, positioning Ghana as a cost-effective production hub.
The delegation was also assured of investment security, citing Ghana’s membership in the Multilateral Investment Guarantee Agency (MIGA) convention.
Mr. Dominic Cheng, General Manager of Yintak Intex, expressed appreciation for the detailed insights shared by the GFZA, stating, “We appreciate the warm reception and valuable investment insights provided.”
Mr. Tim Armstrong, Textile and Apparel Senior Advisor at TBI, reaffirmed the Institute’s commitment to working with GFZA to attract more investors, stating, “We are confident that this partnership will further boost investment in the textile and apparel sector.”
In 2024, it was indicated by Ghana Investment Promotion Center (GIPC)that the sector attracted $31.7 million in FDI in the last decade. This FDI came along with 16 companies registered in the sector.
Dr. Awusi was supported by Mrs. Patience Agbleze Acorlor, Director of Corporate Affairs and Public Relations, and Mr. Alhassan Ziblim, Director of Administration, who addressed questions on The African Growth and Opportunity Act (AGOA) rules of origin, Certificate of Origin acquisition, and the facilities available in the Afienya Enclave.
