Some investors within Ghana’s automotive industry are asking government to explore various options in addressing the high taxes in the country, impacting on their business.
This, they say is affecting their cost of operations in the importation of components for assembling vehicles in the country.
According to Chief Operations Officer of Rana Motors, Kassem Odaymat, the prospects for the automotive industry is positive, but more work needs to be done to attract investors.
Speaking to James Eshun on the AM Business Show, he bemoaned some gaps in policy within the automotive industry.
“The automotive business as a whole, any tax introduces affects us in a way because our business model is not just assembling of cars but we do other things like tyres, car batteries and other components”.
“I won’t say there are too many gaps but we have some that need to be relooked at. The economy now is not favourable, but we hope things will be fine”, he said.
Mr Odaymat however maintained that the automotive industry in Ghana has a positive outlook and as a result, it should be attractive enough to bring in more investors.
Government in 2019 said it will offer tax breaks of up to 10 years to automakers that set up local manufacturing plants, as it seeks to attract international companies such as Volkswagen AG and Nissan Motor and co.
Ghana’s move at the time was to lure carmakers from some African countries which had attracted seven manufacturers including Renault, Nissan and Toyota with tax incentives.
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