Government should consider citizenship-by-investment policy to attract more FDI 


Government should consider citizenship-by-investment policy to attract more FDI 

The Chief Executive Officer of i2 Development Ghana Limited, Youssef Aitour, has called on the Government of Ghana (GoG) to consider a citizenship-by-investment policy to attract more foreign direct investment (FDI) into the country.

Citizenship-by-investment affords individuals and families the privilege of acquiring another citizenship and passport by investing in that country.

It gives them the right to settle in another country. An estimated 100 countries in the world have some citizenship-by-investment policy or legislation in place.

The Ghana Investment Promotions Center (GIPC) data shows that the country recorded foreign direct investment (FDI) totaling US$1.35 billion last year. The main beneficiary sectors were services, manufacturing, general trading, export trading, oil and gas, agriculture, and building & construction.

The stability of the country's political environment and its relatively high returns on investment make it an attractive destination for real estate investors.

This, Mr. Aitour believes could be enhanced through a citizenship-by-investment policy or legislation.

“I call on the government of Ghana to consider a Citizenship by Investment policy to attract more FDI into the country,” he said during his address at the launch of the Prestige project in Accra on Wednesday.

He thanked the government for creating a conducive investment climate for the realization of the Prestige project.

“I would like to reiterate our appreciation to the Government of Ghana for its massive contribution to the success of our project that will provide directly and indirectly through our contractors and subcontractors more than 2000 job opportunities.

“We would like to further acknowledge the government's effort in ensuring a safe and stable investment climate that makes the influx of investment like ours possible,” he said.

The Prestige development is to be situated on 2.88 acres of land adjacent to the Airport Shell Fuel Station and directly opposite the Marina Mall.

Led by i2 Development Ghana Limited, a private developer, Prestige is poised to enhance the beauty of the Airport skyline, redefine luxury living in Ghana's capital, and play a pivotal role in boosting the country's tourism receipts.

The Prestige project’s location means all the best Accra has to offer leisure and business travelers are all a minute away. From famed shopping malls, restaurants, nightclubs, offices of major international companies operating in Ghana, and of course, the Kotoka International Airport are all within reach—in 60 seconds. The project is expected to cater to the ultimate luxury living whether one opts for a studio, one or two-bedroom, or a penthouse.

The lush green spaces on the ground, on each of the levels, and the incorporation of sustainable open spaces as part of the Prestige, will create a luxury sanctuary within the city for residents and pleasure the eyes of beholders. With the strong choice of renowned Michelleti and Co. as the general contractors, the quality of the project is never in doubt.

Improved KIA’s brand image

The availability of sustainable accommodations near airports can attract environmentally conscious travelers. As sustainability becomes an increasingly important consideration for travelers, the presence of eco-friendly hotels and residences can provide a competitive advantage for airports and their associated travel markets.

Moreover, the construction of sustainable residences and hotels can stimulate economic growth by creating job opportunities in the construction, hospitality, and service sectors. These developments can employ local communities, thereby supporting the overall aviation and travel markets.

In addition to economic benefits, sustainable accommodations can also improve the airport's reputation and contribute to its corporate social responsibility efforts. This can lead to increased stakeholder trust, positive media attention, and a strengthened overall brand image, attracting more airlines and businesses to operate within the airport's vicinity.

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