Dr. Mahamudu Bawumia, presidential candidate for the ruling New Patriotic Party (NPP), vowed to introduce tax incentives aimed at boosting private sector investments in sports, as he mentioned that this initiative is part of a broader plan to stimulate growth in the sports, tourism, and creative arts sectors.
Dr. Bawumia outlined his vision, emphasising the use of tax incentives, including a flat tax, to attract both local and international investors. He believes that by reducing the tax burden, businesses will be more inclined to invest in building state-of-the-art sports facilities, tourism attractions, and creative arts centers.
The Vice President also stressed that the proposed tax incentives are a strategic move to create a conducive environment for private sector participation. He noted that the private sector has the resources and expertise needed to develop world-class facilities that can host international events, thereby putting Ghana on the global map. This, in turn, would draw tourists and sports enthusiasts from around the world, further boosting the economy.
Dr. Bawumia also pointed out that this initiative aligns with the government’s broader economic agenda of diversifying Ghana’s economy by fostering growth in sports, tourism, and creative arts, as the government aims to create a more resilient and dynamic economy with the focus on youth employment being crucial.
He revealed this during his 5-day visit to the Western and Western North Region ahead of the 2024 General Elections.
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