DEVELOPING A GLOBALLY COMPETITIVE VALUE-ADDED SERVICES SECTOR – A Regional Business Service and ICT Hub Policy Context The need for Ghana to develop a regional competitive advantage in the area of ICT exploitation and production through the development of a competitive ICT industry and services sector has been recognized. The development of the services sector into a highly competitive value-added sector has been identified as key to transforming Ghana’s economy into a high income economy with the potential to create wealth and quality jobs. It has been established that the inability of the local ICT sector to attract adequate capital through domestic and foreign direct investment has been one of the main obstacles to the development of a globally competitive local ICT industry and a valued-added services sector. The Policy Statement The Government acknowledges that ICTs can serve as the engine for developing the services sector of the economy into a competitive regional business services and ICT hub to provide a world class ICT services targeted ranges of off-shore, banking and financial services to business communities in the region and beyond. The Government is committed to putting in place the necessary policy measures and provides to facilitate this process. This policy commitment shall in addition contribute to addressing some of the other identified developmental challenges facing Ghana, including: the challenges of the disproportionate informal private sector; the challenges of the low job creation capacity of the economy as well as the challenges of the narrow export base dominated by traditional exports Policy Objectives and Strategies The Objectives • To transform Ghana into an attractive destination for ICT-related FDI with the potential to become a competitive regional ICT and business hub. • To develop a highly competitive ICT-led value-added and export-orientated services sector driven by a dynamic ICT services sub-sector and industry • To aggressively promote Ghana as an ideal destination for ICT related FDI within the sub-region. • To promote international competitiveness and a secure a place for Ghana in the international economic system • To harness and fully utilize Ghana’s human, cultural and natural resources and effectively exploit her favourable geographical position for the sustainable development of the economy 47