PROMOTING FOREIGN DIRECT INVESTMENT DRIVE IN ICTs Policy Context It is acknowledged that the development of Ghana’s information society and economy will require substantial investments in terms of financial, technological and other resources including human resources. For example, the development of the nation’s physical and communications infrastructure to the level that could facilitate and support the rapid development of the country will require substantial financial and technological resources which will need to be mobilized from both direct domestic and foreign investment. It is also acknowledged that the realization a number of the other policy goals like: implementing a comprehensive accelerated human resource development programme, the deployment and spread of ICTs within the community through the implementation of a number national ICT projects and initiatives; the deployment of ICTs in the educational system, the development of the private sector and an exportoriented ICT products and services industry as well as the modernization of the agricultural sector will also require massive investments in terms of financial, human and technological resources. Policy Statement The Government is fully committed to putting in place the necessary policy measures, directives mechanisms that will facilitate the mobilization of the necessary financial and technological resources through both domestic and foreign direct investment to accelerate the development of key sectors of the economy including agriculture, industry and services sectors. As part of this commitment, special policy initiatives and measures shall be put in place targeted at promoting FDI drive in ICTs aimed at mobilizing the necessary financial, capital investments and other resources to facilitate the development of the ICT industry and sector. Also to be promoted are joint venture between local and foreign companies to facilitate resource mobilization and technology transfer to accelerate the development of key sectors of the economy. Capital investment initiatives and investments with R&D component as well as human resource development components in the area of ICT skills and other information economy related skills to aid Ghana’s socio-economic development process will also be encouraged and facilitated. 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, the challenges of the weak scientific research base and under-developed research and development (R&D) capacity as well as the challenges of the narrow export base dominated by traditional exports 72