The Establishment of Free Zones in Ghana

1996 ◽  
Vol 40 (1) ◽  
pp. 119-120

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. This has been followed by the Free Zone Act, 1995. This establishes a Free Trade Board consisting ofthe Minister for Trade and Industry (as the chairperson) and eight other persons, four of whom must come from the private sector and two of whom must be women. The function of the Board is to oversee the establishment and operation of free zones. The Act provides for the establishment and development of free zones and free ports and the establishment of enterprises therein by corporations registered under the Companies Act, 1963, or a partnership registered under the Private Partnership Act, 1962. A free zone enterprise has the right to produce any type of goods and services for export except those that are environmentally hazardous.

Author(s):  
Salacuse Jeswald W

This chapter assesses investment promotion, facilitation, admission, and establishment. International law recognizes that by virtue of its sovereignty a state has the right to control the entry and exit of persons and things into and from its territory and also to regulate the activities of nationals or foreign persons and companies within that territory. A corollary of that principle is that a state is not required to allow foreign nationals or companies to establish or acquire an enterprise or investment within its territory. With respect to foreign investment, states have complete legislative jurisdiction to determine to what extent foreign nationals and companies may undertake investments, which sectors and industries they may or may not enter, and whether or not they must fulfil additional conditions in order to undertake and operate an investment within state territory. Numerous factors have shaped individual countries' attitudes towards foreign investment and investment treaty negotiations. One of the traditional aims of the investment treaty movement has been to reduce these internal barriers to foreign investment, particularly through treaty provisions on investment promotion, admission, and establishment. The second decade of the twenty-first century witnessed a growing emphasis in both international discussions and a few treaties on a new concept: foreign investment facilitation.


2018 ◽  
Vol 18 (3) ◽  
pp. 20180025 ◽  
Author(s):  
Anthony J Makin ◽  
Andreas Chai

Expanded international trade in goods and services has driven economic development in the Asia-Pacific since the 1994 APEC Bogor declaration that called for free trade and investment in the region. Despite this goal, APEC has predominantly focussed on international trade rather than investment. To redress this bias, the paper first highlights the benefits from increased international investment before examining APEC foreign investment flows relative to trade flows in APEC economies. It then examines key trends before concluding that APEC should prioritize foreign investment to accelerate economic development and living standards in the region.


Recycling ◽  
2019 ◽  
Vol 4 (2) ◽  
pp. 19 ◽  
Author(s):  
Olukanni ◽  
Nwafor

This paper reviews the partnership between the public and the private sectors in providing efficient solid waste management (SWM) services. While the responsibility of providing SWM services lies with the public sector, the sector has not been able to meet the demand for efficient service delivery, especially in developing countries. In a bid to increase efficiency and lower costs incurred in rendering these services, the involvement of the private sector has been sought. With a focus on major Nigerian cities, partnerships between the local government and private operators in SWM have been analysed based on the level to which the partnership has improved the SWM services. This paper provides an understanding that the success of any public-private partnership relies on the extent to which all stakeholders perform their duties. If the public sector is slack in monitoring and supervising the activities of the private operators, the latter may focus on profit generation while neglecting efficient service delivery. Also, legislation is an important part of SWM. Without the right legislation and enforcement, waste generators will not be mandated to dispose their waste properly. The public sector as a facilitator is responsible for creating an environment for private operators to function, particularly through legislation, enforcement and public sensitization.


1970 ◽  
Vol 4 (1) ◽  
pp. 41-50
Author(s):  
A. Shanthi ◽  
M. Dhanabhakyam

Poverty is one of the conspicuous features of the developing economies in Africa. It is more sever in Eritrea where the size of its economy is small, significant economic growth and transformation may take place if Eritrea exploits all opportunities for export of goods and services and is open to foreign investment and can curtail the rampant poverty. No economy can develop without the right mix of educated, experienced and skilled labor.  Skill itself isn’t adequate without the right attitude, hope and enthusiasm among the labor force. This indicates that there are other factors which affect poverty of a household in conjunction with education. There is a need for providing complementary factors along side with education so as to alleviate poverty. These results suggest labour market policies as potential instruments for tackling poverty in Eritrea. It is possible that because of the war situation and aging population most of those who are poor and unemployed may turn out to be non employable. 


1970 ◽  
Vol 4 (1) ◽  
pp. 28-40
Author(s):  
Ravinder Rena

Poverty is one of the conspicuous features of the developing economies in Africa. It is more sever in Eritrea where the size of its economy is small, significant economic growth and transformation may take place if Eritrea exploits all opportunities for export of goods and services and is open to foreign investment and can curtail the rampant poverty. No economy can develop without the right mix of educated, experienced and skilled labor.  Skill itself isn’t adequate without the right attitude, hope and enthusiasm among the labor force. This indicates that there are other factors which affect poverty of a household in conjunction with education. There is a need for providing complementary factors along side with education so as to alleviate poverty. These results suggest labour market policies as potential instruments for tackling poverty in Eritrea. It is possible that because of the war situation and aging population most of those who are poor and unemployed may turn out to be non employable.  Classification-JEL: Keywords:


Author(s):  
N. Lysenko ◽  
◽  
L. Burmaka ◽  
V. Pavlenko ◽  
◽  
...  

The article proves that government intervention in ports is necessary to regulate the production and provision of public goods and services to improve access to them. The conditions of port operations encourage private participation in the provision of port services in order to encourage the improvement of port efficiency. Ports are considered critical transportation hubs in economic development, which facilitates the movement of both imported and exported goods. Their ability to interact directly with the rest of the world can not only encourage or inhibit growth through trade, but can also bring with it international standards and expertise. Thus, countries depend heavily on their seaports to bring them closer to the globalization processes that surround them. Seaports are designed to facilitate the most efficient means of security, efficient loading / unloading and replenishment of ships. For these requirements, the ports are structured by different functions. The port can be divided into three separate areas of responsibility - port landowners, port operators and port regulation. "Privatize" in the sense of "make private" means the ability to transfer services or assets from state ownership or control to the ownership of a private entity. This happens in three ways: "deprivation of the right" – the transfer of state assets to private ownership through sale, return, transfer or liquidation; "Delegation" – the transfer of management and control over such government assets or activities to agents operating in accordance with certain market indicators; "Relocation" – passive assistance to the private sector to expand or by actively promoting the involvement of the private sector in former public sector activities – for example, transmission construction and operation projects and outsourcing. Privatization can be viewed in different ways, given the role of the state and its ability to produce results similar to those of privatized firms. Intervention by government agencies creates serious obstacles to the realization of competitive advantages, which allows such markets to operate effectively. Due to high cost structuring, underutilized resources and, as a result, high prices, SOCs are not only uncompetitive, but government regulation can actually continue to do so. SOC's ability to be innovative suggests that as consumer demands have changed, SOCs have adapted to more efficient production methods, which may not necessarily be new to the industry, but are at least new to the organization. However, this transformation is slower than private firms, and negative perceptions of the public interest persist.


2018 ◽  
Vol 33 (2) ◽  
Author(s):  
Femi Oluyeju ◽  
Kuda Tshiamo

This article seeks to interrogate the advantages and disadvantages of beneficiation law for Botswana’s mining industry and its implications for foreign investment protection. Furthermore, it argues that the enactment of beneficiation law could stimulate economic growth and development in Botswana. On a proper analysis of the potential of beneficiation law it seems plain that it may facilitate the integration, of among others, the cutting and polishing segments through the backward and forward linkages in the entire diamond value chain to move Botswana diamond industry a step further as a new and emerging jewellery manufacturing and retail center in order to derive maximum returns from the rough diamond production. Quite clearly, cutting and polishing of diamonds in Botswana is bound to promote employment which in turn will promote demand for goods and services that would have a positive impact on economic growth in Botswana.  The paper concludes that on a balance, the opportunities accruable from the enactment of this law far outweigh the downsides and will not in any way scare investors away as some have perceived it.


Jurnal Hukum ◽  
2016 ◽  
Vol 31 (2) ◽  
pp. 1833
Author(s):  
Rihantoro Bayu Aji

 AbstractActually the existence of foreign investment in Indonesia is not new phenomenon, due to foreign investment exist since colonialism era.The existence of foreign investment is still continuing to Soeharto era until reformation era. Spirit of foreign investment in colonialism era, Soharto era, and reformation era are different. Foreign investment in colonialsm era just explore of nation asset and ignore of nation welfare, and this matter is different from the character of foreign investment in Soeharto era also reformation era. Eventhough the involvement of foreign investor have any benefits to the host country, but on the other hand foreign investment have business oriented only whether the investment is secure and may result of profit. Refer to The Law Number 25 Year of 2007 Concerning Investment (hereinafter called UUPM) can not be separated from various interest that become of politic background of the law, even the law tend to liberalism of investment. Liberalism in the investment sector particularly of foreign investment basically exist far from issuing of UUPM, and the spirit of liberalism also stipulate in several rules among others The Law Number 5 Year of 1999 Concerning Prohibitation of Anti Trust and Unfair Competition, The Law Number 22 Year of 2001 Concerning Oil and Gas, The Law Number 7 Year of 2004 Concerning Water Resource, and also The Law Number 30 Year of 2009 Concerning Electricity.   Many rules as mentioned above has liberalism character and also indicator opposite wit the right to manage of the state to nation asset that relate to public interest as stipulated in the Indonesia Constitution. Actually the issuing of UUPM in case of implementation of article 33 Indonesia Constitution (UUD NRI 1945). Due to opportunity by Government to foreign investment as stipulate by article 12 UUPM and also the existence of many rules as well as The Law Number 5 Year of 1999 Concerning Prohibitation of Anti Trust and Unfair Competition, The Law Number 22 Year of 2001 Concerning Oil and Gas, The Law Number 7 Year of 2004 Concerning Water Resource, and also The Law Number 30 Year of 2009 Concerning Electricity, so the foreign investment that relate to public service is more exist in Indonesia. The existence is reflected many foreign companies. Free of foreign investment relate to public service is opposite with spirit of article 33 Indonesia Constitution. Keywords: Foreign Investment, Right of  State, Article 33 Indonesia Consitution AbstrakEksistensi penanaman modal asing (investasi asing) di Indonesia sebenarnya bukan merupakan fenomena baru di Indonesia, mengingat modal asing telah hadir di Indonesia sejak zaman kolonial dahulu.   Eksistensi penanaman modal asing terus berlanjut pada era orde baru sampai dengan era reformasi. Tentunya semangat penanaman modal asing pada saat era kolonial, era orde baru, dan era reformasi adalah berbeda. Penanaman modal asing pada saat era kolonial memiliki karakter eksploitatif atas aset bangsa dan mengabaikan kesejahteraan rakyat, hal ini tentunya berbeda dengan karakter penanaman modal asing pada era orde baru, dan era reformasi. Sekalipun kehadiran investor membawa manfaat bagi negara penerima modal, di sisi lain investor yang hendak menanamkan modalnya juga tidak lepas dari orientasi bisnis (oriented business), apakah modal yang diinvestasikan aman dan bisa menghasilkan keuntungan. Melihat eksistensi Undang–Undang Nomor 25 Tahun 2007 tentang Penanaman Modal (UUPM) tidak dapat dilepaskan dari beragam kepentingan yang mendasari untuk diterbitkannya undang–undang tersebut, bahkan terdapat kecenderungan semangat dari UUPM lebih cenderung kepada liberalisasi investasi. Liberalisasi pada sektor investasi khususnya investasi asing pada dasarnya eksis jauh sebelum lahirnya UUPM ternyata juga tampak secara tersirat dalam beberapa peraturan perundang–undangan di Indonesia. Perundang–undangan tersebut antara lain Undang–Undang Nomor 5 Tahun 1999 tentang Larangan Praktek Monopoli dan Persaingan Usaha Tidak Sehat, Undang–Undang Nomor 22 Tahun 2001 tentang Minyak Dan Gas Bumi, Undang–Undang Nomor 7 Tahun 2004 tentang Sumber Daya Air, dan Undang–Undang Nomor 30 Tahun 2009 tentang Ketenagalistrikan.Banyaknya peraturan perundang–undangan yang berkarakter liberal sebagaimana diuraikan di atas mengindikasikan bahwa hak menguasai negara atas aset bangsa yang berkaitan dengan hajat hidup orang banyak sebagaimana diamahkan oleh Undang–Undang Dasar 1945 (Konstitusi) mulai “dikebiri” dengan adanya undang–undang yang tidak selaras semangatnya. Padahal, UUPM diterbitkan dalam kerangka mengimplementasikan amanat Pasal 33 Undang–Undang Dasar Negara Republik Indonesia Tahun 1945 (UUD NRI 1945). Dengan adanya peluang yang diberikan oleh pemerintah kepada investor asing sebagaimana yang diatur dalam Pasal 12 UUPM ditambah lagi dengan adanya Undang–Undang Nomor 5 Tahun 1999 tentang Larangan Praktek Monopoli dan Persaingan Usaha Tidak Sehat, Undang–Undang Nomor 22 Tahun 2001 tentang Minyak Dan Gas Bumi, Undang–Undang Nomor 7 Tahun 2004 tentang Sumber Daya Air, dan Undang–Undang Nomor 30 Tahun 2009 tentang Ketenagalistrikan, maka investasi asing yang berhubungan dengan cabang– cabang yang menguasai hajat hidup orang banyak semakin eksis di Indonesia. Terbukanya investasi asing atas cabang–cabang produksi yang menguasai hajat hidup orang banyak tentunya hal ini bertentangan dengan konsep hak menguasai negara sebagaimana diatur dalam Pasal 33 UUD NRI 1945. Kata Kunci: Investasi Asing, Hak Menguasai Negara, Pasal 33 UUD NRI Tahun          1945


2021 ◽  
pp. 1-17
Author(s):  
Alejo José G. Sison ◽  
Dulce M. Redín

In 1538–39 Francisco de Vitoria delivered two relections: De Indis and De iure belli. This article distills from these writings the topic of free trade as a “human right” in accordance with ius gentium or the “law of peoples.” The right to free trade is rooted in a more fundamental right to communication and association. The rights to travel, to dwell, and to migrate precede the right to trade, which is also closely connected to the rights to preach, to protect converts, and to constitute Christian princes. This has significant repercussions on the field of business ethics: the right to free trade is ultimately founded directly on natural law and indirectly on divine law; trade is not independent of ethics; and trade is presented as an opportunity to develop the virtues of justice and friendship, among other repercussions. Vitoria is portrayed as a defender of private initiative and free markets.


2020 ◽  
Vol 18 (1) ◽  
pp. 43-73
Author(s):  
Lars Osterbrink ◽  
Paul Alpar ◽  
Alexander Seher

AbstractReviewing and rating are important features of many social media websites, but they are found on many e-commerce sites too. The combination of social interaction and e-commerce is sometimes referred to as social commerce to indicate that people are supporting each other in the process of buying goods and services. Rgeviews of other consumers have a significant effect on consumer choice because they are usually considered authentic and more trustworthy than information presented by a vendor. The collaborative effort of consumers helps to make the right purchase decision (or prevent from a wrong one). The effect of reviews has often been researched in terms of helpfulness as indicated by their readers. Images are an important factor of helpfulness in reviews of experience goods where personal tastes and use play an important role. We extend this research to search goods where objective characteristics seem to prevail. In addition, we analyze potential interaction with other variables. The empirical study is performed with regression analyses on 3,483 search good reviews from Amazon.com followed by a matched pair analysis of 186 review pairs. We find that images have a significant positive effect on helpfulness of reviews of search goods too. This is especially true in case of short and ambiguous reviews.


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