Petroleum Hub Aims for 30-Day Permit Process to Attract Investment
The Petroleum Hub Development Corporation is aiming to streamline the investment process in Ghana’s petroleum sector to attract more investors.
The Corporation aims to cut down the current 492-day timeline required to secure permits to just 30 days, significantly reducing regulatory bottlenecks.
Chief Executive Officer of the Petroleum Hub Development Corporation Dr. Tony Aubynn made the disclosure at the Corporation’s maiden inter-agency dialogue, which brought together key stakeholders to discuss strategies for enhancing efficiency and improving the investment climate.
“If you want to establish a petrochemical plant in Ghana and you want to go through all the regulatory agencies one by one, it will take about 492 days to do that. Which investor will want to stay for 492 days for him to get an EPA permit or water commission permit or some other permit?”
“So this idea is to bridge this gap and for us we are looking at 30 days for an omnibus title to be given or omnibus permit to be given not shortchanging the process though. On a personal note as CEO of the Hub, I am committed to working with all of you. Let us replace territorialism with teamwork and bureaucracy with breakthrough thinking,” he remarked.
The landmark summit, themed “Building the Energy Hub of Choice: Unlocking Synergies for a Globally Competitive Petroleum and Petrochemical Hub”.
