He noted that the arrangement would eliminate the cumbersome process in acquiring land and fraud perpetrated by unscrupulous dealers.

Speaking at the sixth annual general meeting of the Tema Development Corporation (TDC) on Wednesday Dr. Baezie said countries implementing such measure had a smooth land tenure system, and the advantage of attracting foreign investment.

He commended TDC for deploying digital technology (GIS) to effectively map out and demarcate the Tema Acquisition Area enclave.

Dr. Baezie made reference to Rwanda, which had a similar system in place, and thereby enabled those acquiring lands to register them in a matter of few hours.

Dr. Baezie expressed worry about the length of time it took for the courts to adjudicate on land cases especially encroachment cases.

He called on SOEs to consider increasing trade among themselves as a means of saving cost and urged them to implement anti-corruption measures to safeguard public funds.

The Chief Director of the Ministry of Water Resources, Works and Housing, Alhaji Ziblim Yakubu, lauded TDC for consistently paying dividends to the state over the last six years.

He said the ministry and other stakeholders were concerned about the dwindling land space within which TDC had to operate and had initiated measures to address the problem.

The Board Chairman of TDC, Mr.  Emmanuel O. Adjetey announced that the corporation generated gross income of GH¢40.42 million a decrease of 15 per cent of the GH¢47.59 million generated in 2014.

Profit before tax amounted to GH¢8.78 million against the profit of GH¢25.09 million recorded for 2014.

He explained that the dip in their performance for last year was due to a court injunction restraining the corporation from carrying out any business transaction in Community 24 and adjoining sites throughout the year.

Mr Adjetey said the case brought about by a sub chief of Santeo was last week dealt with by the court in favour of TDC, adding the board was working to convert TDC into a public liability company so that it could extend its operations to other parts of the country.

The Managing Director of TDC, Mr. Joe Abbey, said the corporation constructed four blocks of eight storey flats at Community 1 adding that the second phase would commence in 2016.

Mr. Abbey said work on the eight out of 24 blocks (Kpone Affordable Housing Project) handed over to the corporation was 98.5 per cent complete while work on another eight was underway. In all 112 apartments would be made available on completion.

He said work on the Community 2 shops and office complex would be completed in 2016, adding that
TDC as part of its corporate social responsibility constructed an ultra modern sanitary facility for Chemu Senior High School and supported the 2015 National Farmers Day.

From Godfred Blay Gibbah, Tema.