Ghana has set up an Export Processing Zone (EPZ) to facilitate the development of Processing Enterprises and to increase the volume of her Exportation.
An Export Processing Zone (EPZ), is defined as an enclave or a designated area where processing activities undertaken within them occur “outside” the customs territory of the country, insofar as the jurisdiction of normal customs provisions are connected. EPZ is also called Industrial Free Zone (IFZ), Free Economic Zone (FEZ), or Free Export Zone (FEZ)
All raw materials required for production in an EPZ may be imported duty – free and without regard to quantitative restrictions applying within the domestic market. Conversely, goods may be exported from EPZ without payment of taxes and sales duties
Enterprises wishing to locate in the EPZ must fulfilled basic developmental conditions, which are:
• Utilisation of labour-intensive production processes and stimulation of job creation
• Being new foreign industries depending on advanced modern technological processes and capable of enhancing the level of skills
• Applying primary or secondary materials which are locally based or available
• And or being export-oriented companies engaged in international sub-contracting.
Furthermore, any organisation or company, wich provides services, such as insurance, banking, as well as SMEs, which produce input to these Processing Enterprises, are qualified to operate in The EPZ.
Other Sub-Saharan African countries should emulate the steps Ghana has taken to boost Industrial and Manufactural Activities, which generate Jobs and Wealth for their communities.
©EnterpriseAfrik
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