By: Fred Yaw
Sarpong-Daily Express
The
Ghana Investment Promotion Center (GIPC) recorded estimated value of 51 newly
registered projects at US$1.45 billion between April 2016 and June, 2016.
The
foreign direct investment (FDI) component of the total estimated value of the
projects registered during the period under review was US$1.41 billion,
representing 97.54% of the total estimated value, and a local currency
component of US$35.71 million, representing 2.46%.
The
total foreign equity was US$551.04 million and the initial equity transfer was
US$59.12 million for this quarter.
Out
of the 51 projects registered during the second quarter, 40 projects
representing 78.43%, were wholly-foreign owned enterprises valued at US$391.17
million. This is 26.97% of the total estimated value of projects registered.
The
remaining 11 (21.57%) were joint ventures between Ghanaians and foreign
partners valued at US$1.06 billion which represented 73.03% of the total
estimated value of projects registered.
The
projects registered by the center during the period were Agriculture (3) valued
at US$8.68 million; Building and Construction (3) valued at US$1.04 million;
Export Trade (1) valued at US$0.50 million; and General Trading (4) valued at
US$6.17 million.
The
rest are Liaison (7) valued at US$5.71 million; manufacturing (13) valued at
288.63 million; and Services (20) valued at US$1,139.47 million.
The
second quarter of 2016 recorded a total number of 188 project renewals and
expected employment to be created was 4,112. This is made up of 3,729 Ghanaians
while 383 were non-Ghanaians.
Seven
out of the ten regions directly benefited from the registered projects during
the quarter.
The
regions are Ashanti (5 projects) Central (1), Eastern (1), Northern (3), Volta
(1) and Western region (2). Greater Accra recorded 38 projects, representing
74% of all the projects registered.
China,
with 13 projects, ranked the number one source of investments by number of
projects. The rest are United Kingdom 4, USA 4, Belgium 2, France 2, Israel 2,
Mauritius 2, Netherlands 2 and Portugal 2 projects.
Also,
with an FDI value of US$1.06 billion, Singapore topped the list of countries
with the largest value of investments registered during the quarter.
The Chief
Executive of the center Mrs. Mawuena Trebarh said as part of our growing
efforts in creating awareness of GIPC services to the local business community,
the GIPC continues to engage with local investors through the annual outreach
program.
“As
we continue to improve upon our efficiency and also put into action some of the
best practices as an IPA, we are confident that the end of the year results of
recorded FDI inflows and other results in accordance with our mandate will be
reflective of our collective team effort,” she added.
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