The Ghana Investment Promotion Centre (GIPC) recorded an increase in the Foreign Direct Investment (FDI) valued at US$3.25billion: the corresponding value for the same period in 2010 was US$216.71million.
This figure represents an increase of 99.16 percent of the total estimated value during the third quarter of 2011, compared to the same period in 2010.
The total foreign equity was US$274.35million, while the initial equity transfer was US$27.97million during the period under review.
Mr. George Aboagye, Chief Executive Officer of GIPC, told the media in Accra that out of the 161 new investment projects registered, 105 representing 65.22 per cent were wholly-owned foreign enterprises valued at GH¢908.51million -- which was 18.63 percent of the total estimated value of projects registered.
The remaining 56 (34.78) percent were joint ventures between Ghanaians and their foreign partners valued at US$2.65billion and representing 81.37 percent of the total estimated value of projects registered.
For the corresponding quarter of 2010, 70 wholly-owned foreign enterprises were registered valued at US$253.86million and 27 joint ventures at US$.25million.
Meanwhile, during the second quarter of 2011, 71 wholly-owned foreign enterprises were registered and valued at GH¢339.09million, and 56 joint ventures valued at GH¢561.36million.
India, with 25 projects, topped the list of countries with the highest number of registered projects. With US$2.52billion as the estimated value of the investment, Korea topped the list of countries with the largest value of investment registered.
China, Nigeria, Britain, the Netherlands, Lebanon and the United State of America respectively topped the list of investing countries during the third quarter.
Seven out of the 10 regions directly benefitted from the registered projects during the quarter. The regions are Ashanti, Brong-Ahafo, Central, Eastern, Greater Accra, Northern and Western Regions. 85.09% of all the projects registered are located in Greater Accra.
From the number of new projects registered, it is expected that 23,998 jobs will be created. This is an increment of 402.38% over jobs created in the corresponding quarter of 2010.
93.23% (22,373) of the total jobs to be created in the third quarter will be for Ghanaians and the remaining 6.77% (1,625) for expatriates.
Mr. Aboagye said GIPC will continue to encourage both local and foreign investors and facilitate investment projects for the country's growth and development.
“The confidence gained in the Ghanaian economy is a result of the prudent economic measures being pursued by the government -- which have resulted in the economy being described as the fastest-growing in the world currently, and international recognition by various surveys on the economic potential of the Ghanaian economy – and continues to influence the flow of FDI.”
He explained that the delegation from the Democratic People’s Republic of Korea has been in the country to explore areas of economic collaboration in the energy, trade, food and Agriculture, water resources, and housing sectors.
The Centre launched a report dubbed “Ghana 2011” to expose the country’s economic activities and investment opportunities which included a detailed sector-by-sector guide for foreign investors.
The publication, Mr. Aboagye said, will provide an in-depth analysis of the country’s economy.
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