The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr Goerge Aboagye, has disclosed that the Centre is set to create a total of 4,468 decent jobs from the total number of 95 new investment projects recorded in the first quarter of  2012 in the country.

Against this backdrop, Mr Aboagye called on local and foreign strategic investors to set in motion  new pragmatic measures to register with the GIPC to complement its efforts of initiating and supporting measures to enhance Ghana’s investment climate for both Ghanaians and non-Ghanaians companies.

He disclosed this at a press conference in Accra yesterday, related that in the first quarter of 2012, GIPC recorded a total of 95 new investment projects with a total estimated value of $ 1.18 billion, representing an increase of 67. 98 per cent compared to the value recorded in the same quarter of 2011.

On geographical distribution, he noted that eight out of ten regions benefited from the registered projects during the quarter; Greater Accra Region topped with a total of 75 registered projects followed by the Ashanti Region with a total of 7 projects.

That impressive achievement, Mr. Aboagye said gives good indication of the levels of Foreign Direct Investment (FDI) that the country will attract in this year.

Giving the breakdown of the figures of the projects, the CEO said the FDI component of the estimated value of the newly registered projects amounted to $979.85 million which is a significant increase of about 178 per cent over the recorded FDI value in the corresponding quarter of 2011.

He noted that the total initial capital transfers for the quarter amounted to $43.27 million saying that the USA with an FDI value of $407.21 million was ranked first and China remains the top source of FDI in terms of the number of projects.

Of the 95 projects registered during the first quarter, 52 representing (54.74%), he revealed, were wholly-foreign owned enterprises valued at GH¢718.71 million (US$422.77 million.)

This figure, according to Mr. Aboagye, also represents 35.77 per cent of the total estimated value of projects registered.

He indicated that the remaining 43 projects being (45.26%) were joint ventures between Ghanaians and foreign partners and valued at GH¢1.29 billion ($759.28 million) constituting 64.23% of the total estimated value of projects registered.

For the corresponding quarter of 2011, he pointed out that 66 wholly- foreign owned enterprises and 43 joint ventures were registered and valued at GH¢175.07 million ($116.71 million) and GH¢392.58 million ($261.72 million) respectively.

This increase in recorded investment projects, Mr. Aboagye explained is not only corresponding with the first quarter of 2011, saying that it was a progression from the preceding quarter of 2011.

Mr. Aboagye indicated the GIPC’s readiness to embark on regional sensitization programmes to deliberate with the Regional Co-ordinating Council, District Administrators and other stakeholders on how to attract the most appropriate investments into their respective jurisdiction in order to promote local indigenous investments.


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