The Petroleum Hub Development Corporation is focused on optimizing the investment process within Ghana’s petroleum industry to draw in more investors.
The Corporation intends to reduce the current 492-day period needed to obtain permits to a mere 30 days, thereby alleviating regulatory obstacles.
Dr. Tony Aubynn, the Chief Executive Officer of the Petroleum Hub Development Corporation, shared this information during the Corporation’s inaugural inter-agency dialogue, which convened essential stakeholders to explore methods for enhancing efficiency and improving the investment environment.
He stated, ‘If one wishes to establish a petrochemical facility in Ghana and navigate through all the regulatory bodies individually, it would take approximately 492 days. What investor would be willing to wait for 492 days to secure an EPA permit, a water commission permit, or any other permit?’
He further explained, ‘Our goal is to bridge this gap, aiming for a 30-day timeframe for the issuance of an omnibus title or permit, without compromising the integrity of the process. Personally, as the CEO of the Hub, I am dedicated to collaborating with all of you.
Let us replace territorialism with teamwork and bureaucracy with innovative thinking,’ he emphasized. The significant summit was titled ‘Building the Energy Hub of Choice: Unlocking Synergies for a Globally Competitive Petroleum and Petrochemical Hub.’
