Subject to the provisions of this act any person may apply for a license to establish an enterprise in a free zone. Up to 30% of annual production of goods and services of a free zone enterprise are authorized for sale in the local market. Ghana in 1995 created the ghana free zones with the aim of promoting economic development, beginning with tema export processing zone 27. The free zones act 1995, act 504, was passed on 31st. A comparative analysis of effective free trade zone policies. A final meeting to approve the africa free trade zone aftz treaty is scheduled for june, after which citizens of. Ghana free zones authority recruitment 20202021 application. To create a free zone, the president of ghana must declare that an area of land or building is a free zone or single factory zone. Free zone amendment act 2002 free zones act 1995 free zone act no.
Its important and expected role requires the board to be the channel through which the exportled development policy is achieved. Assistant lecturer, faculty of law, university of ghana, legon, accra, ghana. Ghana joins single free trade zone for africa by 2016 ghana. This establishes a free trade board consisting ofthe minister. Experimental evidence from ghana 1 esther duflo mit pascaline dupas stanford michael kremer harvard october 14, 2019.
Under the act, any area in ghana may be declared a free zone or port. The establishment of free zones in ghana journal of african. How to obtain free zones licence in ghana legalstone. Gfzb stands for ghana free zones board established under the free zone act, 1995.
The ghana free zones board gfzb was established on 31 st august, 1995 by an act of parliament. This report provides information on the status and development of nuclear power programmes in ghana, including factors related to the effective planning, decision making and implementation of the nuclear power programme that together lead to safe and economical operations of nuclear power plants. An area within a country where imported goods can be stored or processed without being subject to import duty. Free zones business entities eligible to operate as free zone developers or free zone enterprises are companies registered under the companies code, 1963 act 179 or a partnership registered under the incorporated private partnership act, 1962 act 15. Understanding the african continental free trade area. Industrial premises in tema, ghana list of industrial. This may have risen from practical considerations of the difficulties involved in. Twenty six african states including ghana are working towards the removal of trade barriers for a single trade zone for the continent by 2016. How is ghana free zones board established under the free zone act, 1995 abbreviated.
Free zone investors are permitted to operate foreign currency accounts with banks in ghana. The ghana free zones authority gfza, is a ghanaian governmentcontrolled institution formed on 31 august 1995 to facilitate the setting up of free zones in ghana to improve the economic development and to regulate its related activities. Export processing zones epzs also known as free zones fzs are areas in which businesses are exempt from the normal regime applicable in nigeria, particularly with regard to customs duty and tax. The ghana free zone board gfzb was established by the free zone act, 1995 act 504 as amended by the free zone amendment act, 2002 act 618 to enable the establishment of free zones in ghana for the promotion of economic development. There is established by this act a board to be known as the free zones. Amendment to the free zones act, 1995 act 504 the parliament of the republic of ghana has passed an amendment to the free zones act, 1995 act 504 by issuing a legislative instrument l. This paper will do a comparative analysis of effective free trade zone policies in ghana using china shanghai pilot free trade zone shftz as a model. A comparative analysis of effective free trade zone policies in ghana using china shanghai pilot free trade zone shftz as a model has been done. African continental free trade area afcfta legal texts and. Applications to undertake approved activity in a zone as provided by the act shall be accepted by the authorityzone management on the condition that the application is presented in the. Dec 17, 2019 the ghana free zones authority was established on 31st august 1995 by an act of parliament to enable the establishment of free zones in ghana for the promotion of economic development, to provide for the regulation of activities in free zones and for related purposes. Free zone act, 1995 act 503 the labour act, 2003 act 651 foreign exchange act, 2006 act 723 ghana revenue authority act 2009, act 791 national communications authority act, 2008, act 769 banks and specialized deposit taking institutions act, 2016, act 930. Provides for the establishment and regulation of import and export free zones. Nigerian free zones offers a multitude of incentives for.
It was found that there has been year on year increase in the number of companies registering with the ghana free zones. Of the parliamnet of the republic of ghana entitled the free zone act, 1995 an act to enable the establishment of free zones in ghana for the promotion of economic development. Zone and a project plan showing the location, layout, area and proposed utilization of the zone. So the au decided, for now, to emphasis the creation of the continental free trade area, leaving aside the common market, and economic and monetary community. Legislation online parliament of ghana pdf consulted on 20211 abstractcitation. Free zones have emerged on the scene as a planning tool to help boost economic development. Ugandachina guangdong free zone of international industrial cooperation is a subsidiary of guangzhou dongsong energy group u co. A free trade zone ftz is a class of special economic zone. Freezone act, 2014 uganda legal information institute. A freetrade zone ftz is a class of special economic zone. Ogfza was established by section 2 of the oil and gas export free zone act no.
The african continental free trade area afcfta and nontariff barriers ntbs 22 mar 2018. It is a geographic area where goods may be landed, stored, handled, manufactured, or reconfigured and reexported under specific customs regulation and generally not subject to customs duty. Act 504 free zone act, 19951 an act to enable the establishment of free zones for the promotion of economic development, to provide for the regulation of activities in free zones and for re lated matters. Uganda freezones authority invest in the heart of africa. To make it easier for free zone developers to acquire the various licenses and permits to operate, the ghana free zones board.
An act to enable the establishment of free zones in ghana for the promotion of economic development. Among the incentives for free zone companies are a tenyear corporate tax holiday and zero import duty. It was found that there has been year on year increase in the number of. In exercise of the powers conferred on the minister responsible for trade and industry by sections 262 and 41 of the free zone act 1995 act 504, and after consultation with the minister responsible for customs and exercise and the commissioner of customs, excise and preventive service in accordance with section 262 of act 504, these regulations. The ghana free zones board, which is the government agency responsible for the implementation of the programme, is achieving positive results. The ghana free zones authority gfza was established on 31st august, 1995 by an act of parliament1995 act 504, to enable the establishment of free zones for the promotion of economic development. Free zone act, 1995 act 503 the labour act, 2003 act 651 foreign exchange act, 2006 act 723 ghana revenue authority act 2009, act 791 national communications authority act, 2008, act 769 banks and specialized deposit taking. Also called a free zone, free port, or bonded warehouse. The ghana free zones programme was established by the free zone act, 1995 act 504 with the core objective of promoting economic development through the attraction of local and foreign direct investments, promotion of export diversification.
In a bid to attract foreign investment, the ghana investment promotion centre act, 1994, provided for the establishment of the investment promotion centre to be responsible for the administration of investment activities in ghana. Unlike a free zone, which is a collection of enterprises, a single factory zone covers a single factory area or building. An act to enable the establishment of free zones in ghana for the promotion of. List of best industrial premises in tema, ghana, top industrial premises in tema, ghana, industrial premises near me, best industrial premises.
Local governance act, 2016local governance act, 2016 act 936 51. Schedule to this act shall be approved activities for the purposes of this act. Kenya held the lead with 33 free zones, some being very small and confined to only a few firms and only two of which were governmentowned. They have their advantages, but their policy pitfalls too. Since antiquity, governments, emperors, kings and queens have been providing traders and investors with special sites offering respite from normal importexport tax regimes and regulations in.
It was enacted by an act of parliament, the free zone act 1995 act 504. Holland egypt info phone cairo free zone area nasr city cairo cellucom fzco united arab emirates info web phone dubai d14 airport free zone dubai dubai 36153 uae dsr qeshm co. The gfzb was established by the free zone act, 1995 as amended by the free zone act, 2002 to enable the establishment of free zones in. Inactive free zone nigeria export processing zones. Ghana free zones authority looking beyond the horizon. Applications to undertake approved activity in a zone as provided by the act shall be accepted by the authority zone management on the condition that the application is presented in the. In the case if ghana, the free zones act 1995 act 504, an act to enable the establishment of free zones in ghana for the promotion of economic development. About us the uganda free zones authority is a body corporate under the supervision of the ministry of finance, planning and economic development. In return, the government expects companies operating in the epzs to boost national exports, create jobs and help in diversifying the nigerian economy by bringing in new activities.
Ghanas constitution of 1992 with amendments through 1996. Gfzb is defined as ghana free zones board established under the free zone act, 1995 somewhat frequently. The ghana free zones authority was established on 31st august 1995 by an act of parliament to enable the establishment of free zones in ghana for the promotion of economic development, to provide for the regulation of activities in free zones and for related purposes. Free trade zones are generally organized around major seaports, international airports, and. The oil and gas free zones authority ogfza is the national regulatory agency superintending over the operation of the oil and gas free trade zones in the country. Following the widespread adoption of free primary education, african policymakers are now considering making secondary school free. The legal and institutional architecture of the agreement establishing the african continental free trade area 15 mar 2018. Aug 30, 2017 the ghana free zones programme was established by the free zone act, 1995 act 504 with the core objective of promoting economic development through the attraction of local and foreign direct investments, promotion of export diversification and enhancing the countrys foreign exchange earnings. Gfzb ghana free zones board established under the free. Ghana free zones authority recruitment 20202021 application form.