By:
Fred Yaw Sarpong- Daily Express
Mawuena Trebarh, CEO of GIPC
About
US$820.70 million value of new investment projects were registered in the third
quarter of 2015, the Ghana Investment Promotion Centre (GIPC) has announced.
According
to GIPC, which facilitates investment activities and provides assistance to
investors, the total initial capital transfers for the newly registered
projects during the quarter amounted to US$15.82 million.
During
the period, 52 new investment projects were registered by the centre, out of
which 37 (71.15%), were wholly-foreign owned enterprises valued at US$505.94
million.
The
projects registered during the quarter were Agriculture 1 project valued at
US$10.00 million, representing 1.22%; Building/Construction 5 projects valued
at US$300.13 million, representing 36.57%; Export Trade 3 projects valued at
US$0.79 million, representing 0.10%; and General Trading 5 projects valued at
US$19.10 million, representing 2.33%.
The
rest are Liaison 6 projects valued at US$4.20 million, representing 0.51%;
Manufacturing 17 projects valued at US$94.04 million, representing 11.46%; and
Services 15 projects valued US$392.45 million, representing 4.7.82%. Tourism
recorded negative during the quarter.
According
to GIPC’s 2015 third quarter report, the remaining 15 (28.85%) investment
projects were joint ventures between Ghanaians and foreign partners valued at US$314.77
million
Six
out of the 10 regions in Ghana directly benefited from the registered projects
during the quarter. The regions were Ashanti (3 projects), Eastern (3 project),
Greater Accra (39 projects), Brong Ahafo (2 projects), Western region (4
projects), Central (1 project) and Eastern (3 projects).
Per
the regional distribution of the projects, 75% of all the projects registered
are located in the Greater Accra region.
China,
with 14 projects was the country with the highest source of investments in the
third quarter. However, with an FDI value of US$301.36 million, Turkey topped
the list of countries with the largest value of investments registered during
the quarter. Other countries were Netherlands, India, South Africa, Lebanon,
Singapore, United Kingdom, Nigeria and Vietnam.
A
total number of 5,993 jobs were expected to be created for the quarter. About 5,307
(88.55%) jobs were meant for Ghanaians while 686 (11.45%) jobs were for non-Ghanaians.
Per
the report, the foreign direct investment (FDI) component of the estimated
value of the projects registered during the period was US$587.55 million,
representing 71.59% of the total estimated value, and a local currency
component of US$233.15 million, representing 28.41%.
The
total foreign equity was US$117.31 million and the initial equity transfers was
US$15.82 million) for the quarter.
According
to the Chief Executive Officer the GIPC, Mrs. Mawuena Trebarh Foreign Direct
Investment (FDI) inflow in the year 2015 as recorded by the centre has been
increasing steadily so far.
She
said GIPC recorded a total of 52 projects in the third quarter, an increase of
37% and 73% over the projects recorded in the first and second quarters
respectively.
Mrs.
Trebah said this brings the total number of projects registered in 2015 to 120
projects with a total estimated cost of US$2.29 billion and a total FDI component
of US$2 billion, an increase of 18% over the recorded amount in the corresponding
period of 2014.
“This
steady increase is expected to be maintained for the rest of the year and
beyond as various initiatives continue to be embarked upon by the Centre to
sustain the positive results gained so far,” she noted.
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