Manufacturing Sector Attracts More Investments

Yofi Grant, GIPC boss

A total of 139 new investments were registered from January to September 2017.

The manufacturing sector recorded the highest number of investments with 37 projects, followed by the services sector with 34 projects.

The agriculture sector recorded only one project while there was no investment recorded in the tourism sector.

In terms of the estimated value of investments, the manufacturing sector again topped with US$ 2.65 billion.

The high value is attributable to a joint venture investment from Netherlands.

Overall, investments recorded amounted to US$ 5.63 billion with an FDI component of US$ 4.37 billion.

This is made up of investment registrations at Ghana Investment Promotion Centre (GIPC), Ghana Free Zones Board (GFZB), Minerals Commission and the Petroleum Commission.

A minimum of 12,259 jobs are expected to be created as a resultant effect of the inflows.

Of the 44 projects registered during the third (3rd) quarter, 33 (75%) were wholly-foreign owned enterprises valued at US$61.08 million, which is 51% of the total estimated value of projects registered.

The remaining 11 (25%) were joint ventures between Ghanaians and foreign partners valued at US$58.73 million, which is 49% of the total estimated value of projects registered.

Six out of the 10 regions directly benefited from the registered projects during the quarter.

The regions are Ashanti, Central, Greater Accra, Northern, Volta and Western regions. 84.09% of all the projects registered are located in the Greater Accra Region.

India and the United Kingdom, with five (5) projects each, were the leading sources of investments by project numbers.

On the other hand, with an FDI value of US$21.62 million, Denmark topped the list of countries with the largest value of investments registered during the quarter.

The FDI component of the total estimated value of the projects registered during the period under review (1st July to 30th September, 2017) was US$94.75 million, representing 79.1% of the total estimated value, and a local currency component of US$25.06 million, representing 20.9%.

The total foreign equity was US$45.66 million and the initial equity transfer within the quarter was US$21.37 million.

A total of 24 Ghanaian projects were registered during the 3rd quarter of 2017.

These projects are located in five regions of Ghana, with the Greater Accra registering the highest number of 18.

The services sector recorded the highest number of projects (10), followed by Building & Construction and Manufacturing, which recorded 5 and 4 projects respectively.

 

 

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