Parliament has passed the Ghana Investment Promotion Authority (GIPA) Bill, marking a significant step in efforts to modernise the country’s investment promotion and regulatory framework.

The legislation, approved during the 31st Sitting of the 1st Meeting of the 2nd Session of the 9th Parliament of the Fourth Republic, follows years of stakeholder consultations and aligns with Ghana’s national development priorities, international obligations, and evolving global investment standards.

The new Bill introduces a more flexible and robust legal structure to guide investment promotion, facilitation, and regulation. It is expected to enhance transparency, improve responsiveness to investor needs, and create a more efficient business environment.

A key provision of the Bill designates the Authority as Ghana’s national focal point for the Protocol on Investment under the African Continental Free Trade Area, reinforcing the country’s position as a strategic gateway to regional and continental markets.

The legislation also places greater emphasis on inclusive growth by supporting Ghanaian-owned businesses, improving access to incentives, and facilitating the growth of local enterprises.

At the same time, it aims to attract high-quality foreign direct investment that contributes meaningfully to economic development.

Incorporating principles of sustainability and social inclusion, the Bill seeks to channel investments into projects that promote job creation, technology transfer, skills development, and environmental responsibility.

Chief Executive Officer of the Ghana Investment Promotion Centre, Simon Madjie, described the passage of the Bill as a turning point in Ghana’s investment landscape.

He noted that the new framework would improve accountability, strengthen investor confidence, and position Ghana as a competitive and responsible investment destination.

Mr. Madjie also commended Parliament, key committees, and relevant ministries for their roles in achieving the milestone.

Once assented to by the President, the new law is expected to enhance investor protection, streamline administrative processes, improve dispute resolution mechanisms, and further boost both domestic and foreign investment inflows into Ghana.