The value of USA’s FDI flows to Ghana for the first quarter of 2012 was US$ 407.21million, making it top the list of foreign sources of investment in terms of value, while China tops the list in terms of number of projects with 12 registered.

This is according to the latest report released by the Ghana Investment Promotion Centre (GIPC) in Accra.

The GIPC during the period under review recorded 95 new projects with an estimated value of US$1.18billion. This value represents an increase of 67.98 percent over the value recorded in the same period in 2011. Total initial capital transfers for the quarter amounted to US$43.27million.

“The results of the first quarter of this year give a good indication of the levels of foreign direct investments that the country will attract in 2012, and we are optimistic that 2012 will be another year for recording appreciable levels of investments.

There is heightened investor confidence in the economy despite the elections later this year,” said Mr. George Aboagye, Chief Executive Officer of GIPC.

“With our ever-strong commitment to our mandate and our ongoing promotional activities, we believe the investment climate will continue to be conducive for existing and potential investors,” he added.

He explained that the foreign direct investment component of the estimated inflows of newly registered projects amounted to US$979.85million, up 178 percent over US$351.75million in the corresponding period of 2011.

He indicated that of the 95 projects registered during the period, 52 were wholly foreign-owned enterprises valued at US$422.77million, while the remaining 43 projects were joint ventures between Ghanaians and foreign partners valued at US$759.28million.

Approximately 4,468 jobs were expected to be created from the 95 projects, a 36 percent decline from 7,004 jobs created in the same period last year.

Mr. Aboagye disclosed that results from the Centre’s on-going biennial re-registration exercise showed that a total of 577 companies renewed their registration with the body in 2011.

These companies, he said, had created a total of 43,923 actual jobs from the registered projects comprising 41,391 jobs for Ghanaians and 2,532 jobs for non-Ghanaians.

The jobs created were far more than the 24,028 jobs estimated during the time of registration.

Besides, the current investment at the time of re-registration by the companies stood at US$982.91million compared to the projected investment of US$421.10million recorded at the time of registration.

Mr. Aboagye said GIPC will step-up its investments and trade missions across the world to market opportunities in the country.

“The Centre will also undertake nationwide investment tours to promote local indigenous investments between June 4 and July 27 and deliberate with the Regional Coordinating Councils, District Administrations and other stakeholders on how to attract investments into their areas.

“The tours will also help identify investment opportunities in each region and call for project proposals and to brief local investors on opportunities available for partnerships and joint ventures.”

Eight out of the 10 regions directly benefitted from the registered projects during the quarter. They are Ashanti, Brong Ahafo, Central, Eastern, Greater Accra, Northern, Volta and Western Regions. Nearly 80 percent of all the projects registered are located in the Greater Accra Region.


By Ekow Essabra-Mensah

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