Prof Gyan-Baffuor made this comment at the Ghana Trade Fair Centre Redevelopment Investor Conference held in Accra Thursday (July 25, 2019).
He said that the redevelopment of the Centre into a modern trade exhibition site will generate additional tax revenue from new businesses and investors both locally and on the international sphere.
“For the government and the people of this country especially this community, this estimated $2b investment that will generate additional tax revenue from the new businesses and new development.”
It is anticipated that the project will take about three to five years and will be carried out in three phases with one phase projected to lead to the development of a 12,000-seater trade convention centre.
Also, modern hotels, retail shops, among others are expected to be built on the site.
The minister said the Centre will also provide an estimated 10,000 jobs including 3,000 direct jobs and 7,000 indirect ones throughout the value chain.
“That is from project planning to construction and post-construction management,” he explained.
Prof. Gyan-Baffour added that the “hub of highly intensive business activities”, once completed, will generate permanent employment of more than 10,000 people any given moment as well as an estimated $150m worth of business annually.
He added that “the Ghana Trade Company has made sure that the design, concepts would drive tourism through the various theme parks and hotels as well as the retail outlets that will serve the entire sub-region.”