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2010 second quarter investments in Ghana amount to $662m

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In the second quarter of 2010, the total value of new investments in Ghana amounted to $662 million. These were derived from 105 new projects, the Ghana Investment Promotion Centre (GIPC) has said last week.

According to the Centre, the new investments have brought in altogether an amount of $850 million in 213 projects.

The CEO of the GIPC George Aboagye said the foreign direct investment (FDI) component of the total investment value into the country in the first half of the year amounted to $760.68 million, a significant increase of 598.83% compared to $108 million recorded for the same period in 2009.

The FDIs have come from India, China, Nigeria, Britain, Lebanon, Demark, Netherlands South Africa as well as Belgium and the British Virgin Island.

Aboagye said 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.

He also indicated that 67 newly invested projects, or 63.81% of the new investments in the second quarter were wholly owned foreign enterprises valued at $648 millio while the remaining 38 or 36% were joint ventures between Ghanaians and foreign entities valued at $14 million.

By Emmanuel K. Dogbevi

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