Ghana’s FDI inflow registers 70 percent increase

By Lawrence Quartey

Posted on June 15, 2011 15:33

Foreign direct investment into Ghana in the first quarter of 2011 grew by over 100% compared to last year, according to the Ghana Investment Promotion Centre (GIPC).

On average, Ghana’s Foreign Direct Investment (FDI) increased considerably by approximately 70 percent annually in the last two years.

For the first quarter of 2011, the Centre, which coordinates and monitors investment activities in the west African country, registered a total of 109 projects with an estimated value of GH¢567.66 million (US$378.44 million).

Jobs expected to be created by these projects are estimated at 7,004.

Compared to the corresponding quarter of 2010, the estimated value of registered projects grew by 101.31%, while FDI component of the projects shot up by 118.02%. The initial capital transfer also increased significantly by 363.66%.

In addition, jobs expected for Ghanaians increased by 18.80% whereas that for non-Ghanaians decreased by 22.36%.

Chief Executive Office of GIPC, George Aboagye said the Centre – during the first quarter, “assiduously pursued our investment promotional activities and offered services to existing and potential investors.”

Launching this year’s “Invest in Ghana, 2011” Seminar and the Ghana Club 100, 2010 edition in the country’s capital, Accra, Aboagye said the event would create the platform to bring investors and projects together to explore public private partnerships.

The event, which opens under the theme: “Partnerships for sustained economic growth: the role of the domestic investor”, according to Aboagye, will “…facilitate business partnerships, which support the economic growth required to enable Ghana prosper in the emerging global economy of the 21st century.”

“Partnering domestic investments with FDI, we believe is one of the major interventions by which we can build the capacity and grow our domestic investors,” said Aboagye.

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