We’re positive about TTAs – GIPC

The Ghana Investment Promotion Centre (GIPC) says it has a positive stance on Technology Transfer Agreements (TTAs) in its investment promotion role, and is not oblivious of the fact that TTAs are essential for innovation and economic development.

Speaking at the ongoing 3i Africa Summit in Accra on the theme ‘Dialogue on Technology Transfer Agreements and their impact on Economic Growth, officials of the GIPC maintained that the Centre encourages TTAs to facilitate technology transfer between foreign and local enterprises.

Head of Legal Division at the GIPC, Naa Lamle Orleans-Lindsay stressed that the Centre required registration of TTAs to ensure compliance with Ghanaian laws and regulations.

“TTAs are very critical to Ghana’s economic progress because they provide the framework within which companies can seek valuable critical services from outside Ghana to help their companies grow and expand,” she indicated.

Madam Orleans-Lindsay explained that “with TTAs,  we look at the framework within the law and seek to make it easier for companies to enter into agreements with us and make it more effective, more valuable for their enterprises .”

One main purpose of the the GIPC Act and regulations is to promote local content.

“It is to ensure that companies in Ghana  whether or not they are foreign, they must look first in-country for services , not goods. We encourage companies to look inward, in the event that they are not available in Ghana then they can source from outside,”

Chief Executive Officer of the Centre, Mr Yofi Grant explained that the GIPC would all within its remit to encourage local businesses to rise to the challenge when it comes to partnerships with foreign firms but cannot compel them to be efficient in what they do.