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GIPC Registers $7.68bn Worth Of Projects   
 
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27-Jan-2012  
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The Ghana Investment Promotion Centre (GIPC) registered 514 projects in the country last year at an estimated value of GH˘11.52 billion (US$7.68 billion), representing a 500.74 per cent increase over the figure for 2010.

In 2010, the GIPC recorded 385 projects at a value of GH˘1.79 billion (US$1.28 billion).

By the number and value of projects registered last year, the centre exceeded its 2011 target of GH˘1.5 billion.

The Chief Executive Officer of the GIPC, Mr George Aboagye, who announced this at a news conference in Accra on Wednesday, said the “total initial capital transfers from the estimated value of the projects recorded for the year under review amounts to
GH˘319.94 million (US$213.29 million)”.

For the Foreign Direct Investment (FDI) component of the projects, he said the centre was able to record GH˘10.23 billion (US$6.82 billion), representing an increase of 514.41 per cent.

Among the projects registered in the country, those of Chinese origin continued to dominate with 79, closely followed by India with 77 and Nigeria and Lebanon with 39 and 36, respectively.

However, in terms of the value of the estimated projects, Korea topped the list with US$4.77 billion, beating Bermuda, whose value of projects recorded for 2011 was US$300 million.

Mr Aboagye said the GIPC was following up to get the actual figures in terms of employment creation by those investors, adding,

“We will be able to tell after the registration of the investors in the country.”

Meanwhile, he said, 46,761 jobs were expected to be created, with expatriates taking only 3,589 of them.

Mr Aboagye said all the economic indicators had shown positive signs and pledged the GIPC’s commitment to stay committed to its mandate.

He said the centre would continue to promote a variety of investment opportunities in Ghana which were geared towards the realisation of the country’s developmental goals and improve its business environment.

On the sectors that would continue to attract investments into the country, he said the services sector had become the major transformational tool across the globe.

“I foresee the services sector dominating once again, but, then again, the real estate sector, construction and manufacturing will perform creditably well,” he said.

Mr Aboagye said the agricultural sector would also see some growth and contribute meaningfully to the food basket of the economy, as more of the activities in that sector were being mechanised.
 
 
Source: Daily Graphic
 
 

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