Business News of Monday, 2 February 2004

Source: GNA

Government won't tolerate negative investors

Tamale, Feb. 2, GNA - Mr. Charles Bintim, Deputy Northern Regional Minister has stated that even though the government was looking for foreign investors, it would not welcome those that would come and engage in nefarious activities.

He explained that the government was looking for honest and dedicated investors who would meet their tax obligations, respect the Ghanaian worker, and obey the laws of the land.

Mr Bintim was speaking at the opening of Melcom shopping centre, an Indian private business entity in Tamale on Monday.

The deputy Regional Minister observed that over the past, some "so-called" investors came into the country to invest but turned out dehumanising the Ghanaian worker, while others also refused to pay their taxes. "These types of investors cannot be tolerated any more in this era."

He urged foreign companies operating in the country to give their maximum support and cooperation to the government by paying their tax promptly and respecting the laws of the land.

He urged the companies to show their social commitment to the country by investing some percentage of their profits in communities that they operate in to improve the living conditions of the people. Mr Bintim assured the business community that the government would continue to provide adequate security to the private sector to enable them to expand their businesses.

The Deputy Regional Minister urged the public to provide information about criminals, especially armed robbers, to the security agencies since their activities were discouraging investors from coming to invest in the country.

Mr Mahesh Melwani, Managing Director of Melcom, said Indian investors were prepared to continue to invest in Ghana due to the prevailing stable business environment.

He noted that Ghana and India has long established good business relationship and assured the government that his company would not come to mar the relationship.

Mr Melvani assured customers in the Northern Sector that the company would supply them with goods at their doorstep without additional cost to them.

"With the opening of our shop, which offers the complete range of products that we offer in Accra, residents of Tamale and its environs can now have a new shopping experience without having to travel to Accra".

Items on sale range from men, ladies and children's wear, television sets, computers, radio cassette recorders, video decks, shoes and towels.