Netherlands topped the list of countries with the largest estimated value -- US$146.52 million --of Foreign Direct Investments (FDI) into Ghana, with China being the leading source of investment projects (36) registered during the first half of the year, latest reports released by the Ghana Investment Promotion Centre (GIPC) have revealed.
The performance was driven by significant inflows from the two countries in the second quarter of the year.
“With US$128.28 million as the estimated value of Foreign Direct Investments (FDI), Netherlands topped the list of countries with the largest value of investments registered during the second quarter of 2011.
“China, with 23 projects, also topped the list of countries with the highest number of registered projects,” Mr. George Aboagye, Chief Executive Officer of GIPC, disclosed in Accra at a forum to announce the country’s half-year investment trend.
He stated that the total number of projects registered for the first half of 2011 was 236, with a total estimated value of US$978.74 million (GH¢1.47 billion). 213 projects were registered for the corresponding half of 2010 with a total estimated value of US$850.84 million (GH¢1.19 billion).
The total initial capital transfers amounted to US$165.93 million (GH¢248.90 million) for the period under review, while transfers in the corresponding half-year of 2010 amounted to GH¢42.50 million (US$30.36 million).
Of the 236 registered projects, 137 were wholly-owned foreign enterprises and 99 were joint ventures between Ghanaians and foreign partners.
The joint-venture projects were valued at US$635.96 million (GH¢953.94 million), and the wholly-owned foreign enterprises were valued at US$342.77 million (GH¢514.16 million).
The FDI component of the estimated value of projects registered during the first half of the year amounted to US$904.04 million (GH¢1.36 billion), and the local currency component amounted to US$74.68 million (GH¢112.03 million).
For the corresponding period in 2010, the FDI component of the estimated value of projects registered amounted to US$760.68 million (GH¢1.06 billion), and the local currency component amounted to US$90.16 million (GH¢126.23 million).
A total of 14,412 jobs are expected to be created by registered projects from the first half of 2011. 13,170 of the total jobs to be created will be for Ghanaians and the remaining 1,242 will be for expatriates.
The 2nd quarter performance was generally better than the 1st. For the 2nd quarter of this year, 127 new projects were registered. The total initial capital transfers for the newly registered projects amounted to US$97.03 million (GH¢145.55 million). The total estimated value of this quarter’s newly registered projects was US$600.30 million (GH¢900.45 million).
The total foreign equity was US$296.68 million (GH¢445.02 million), and the initial equity transfer was US$97.03 million (GH¢145.55 million).
The FDI component of the estimated value of the projects registered during the period under review (1st April to 30th June 2011) was GH¢828.44 million (US$552.29 million), representing 92% of the total estimated value, and a local currency component of GH¢72.01 million (US$48.00 million), representing 8%.
This compares better to the FDI component of projects registered in the first quarter of 2011, which was valued at US$351.75 million (GH¢527.63 million), with a local currency component of US$26.68 million (GH¢40.02 million).
During the first quarter of 2011, 66 wholly-owned foreign enterprises and 43 joint ventures were registered and valued at US$116.71 million (GH¢175.07 million) and US$261.72 million (GH¢392.58 million) respectively.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment