Government to invest $ 2 billion to redevelop trade shows

Company News of Thursday, July 25, 2019

Source: www.ghanaweb.com

2019-07-25

Professor George Gyan-Baffour, Minister of Planning, revealed that an estimated $ 2 billion budget had been allocated for the redevelopment of the Ghana International Trade Fair Center.

Teacher. Gyan-Baffuor said the investment for the redevelopment of the Center into a modern commercial exhibition site will generate additional tax revenue for new businesses and new investors – locally and internationally.

According to the Minister of Planning, "For the government and the people of this country, especially this community, this investment estimated at $ 2 billion will generate additional tax revenues from new businesses and new development."

He made these comments at the investors' conference for the redevelopment of the Ghana Trade Fair Center, held in Accra on Thursday, July 25, 2019.

The project is expected to last about three to five years and take place in three phases, one of which will lead to the creation of a 12,000-seat convention center.

Modern hotels, retail stores, among others, should be built on the site.

S speaking to investors, he said the Center would also create about 10,000 jobs, including 3,000 direct jobs and 7,000 indirect jobs along the value chain.

"It goes from project planning to construction and post-construction management," he explained.

Professor Gyan-Baffour added that once completed, the "center of very intensive business activities" will generate a permanent job of more than 10,000 people at any one time, as well as business deals. estimated value of $ 150 million per year.

On tourism, he said development also has enormous potential to boost the sector in the country.

Thus, "The Ghana Trade Company has ensured that the design, concepts, stimulate tourism through the various parks and hotels, as well as outlets serving the entire sub-region."

Recreation facilities, he added, will contribute to health and reduce crime.

For his part, Finance Minister Ken Ofori-Atta said the facelift would complete Ghana's plan to become the hub of financial services in Africa.