Ghana receives new investments for 105 projects in second quarter

16:53, July 28, 2010      

Email | Print | Subscribe | Comments | Forum 

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


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Staff members watch a screen showing the blast-off of the Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module at Beijing Aerospace Control Center, Sept. 29, 2011. Commander-in-chief of China's manned space program Chang Wanquan announced Thursday night that the launch of Tiangong-1 space lab module was successful. (Xinhua/Wang Shen)
  • Chinese President Hu Jintao watches the launch of Tiangong-1 space lab module at Beijing Aerospace Control Center in Beijing, capital of China, Sept. 29, 2011. Other members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, including Wu Bangguo, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang and Zhou Yongkang, are also present. (Xinhua/Rao Aimin)
  • The graphics shows the launch procedures of the carrier rocket of Tiangong-1 space lab module, Long March-2FT1 on Sept. 29, 2011. (Xinhua/Lu Zhe)
  • Image taken from Beijing Aerospace Control Center shows a Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module blasting off from the launch pad at the Jiuquan Satellite Launch Center in northwest China's Gansu Province, Sept. 29, 2011. (Xinhua)
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
Hot Forum Discussion