Ghana receives new investments for 105 projects in second quarter

16:53, July 28, 2010      

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Ghana received new investment totaling 662 million U.S. dollars for 105 new projects in the second quarter of 2010, the Ghana Investment Promotions Centre (GIPC) announced on Tuesday.

The new investment brought the total estimated investment in the first half of the year to 850 million dollars in 213 projects, GIPC said.

Announcing the news, GIOC Chief Executive Officer George Aboagye elaborated that 760.68 million dollars out of the total investment received in the first half of this year were Foreign Direct Investment (FDI) which was a significant increase of 598.83 percent compared to that of the 108 million dollars recorded over the same period last year.

"16 .01-million-dollar initial capital transfers were recorded for the second quarter of 2010 and this also brings to a total of 30.36 million dollars for the first half of 2010," George Aboagye added.

The CEO also disclosed that 89,483 new jobs were expected to be created for Ghanaians in the second quarter, bringing the total number of jobs expected to be created in the first half of 2010 to 94,952.

According to the official, 67 newly invested projects, or 63. 81 percent of the new investments in the second quarter were wholly owned foreign enterprises valued at 648 million dollars while the remaining 38 or 36 percent were joint ventures between Ghanaians and foreign entities valued at 14 million dollars.

For the corresponding period in 2009, 56 wholly owned foreign enterprises and 27 joint ventures were registered, valued at 33.61 million dollars and 78.06 million dollars respectively, while for the first quarter of 2010, 63 wholly-owned foreign enterprises and 45 joint ventures were registered, valued at 155 million dollars and 32 million dollars respectively.

He listed some of the new enterprises registered as African Plantations for Sustainable Development, Mass Industries Ltd, Gakten Agro Ltd, Beacon Life Assurance as well as Soroma Ghana Funds 1 Ltd.

He named the sources of the FDI as India, China, Nigeria, Britain, Lebanon, Demark, Netherlands South Africa as well as Belgium and British Virgin Island.

The CEO attributed the improvements in investments to political stability, improved economic indicators and improvement in personal safety which has brought down crime.

Source: Xinhua

(Editor:赵晨雁)

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