Ghana’s Foreign Direct Investment Declines Marginally

Foreign Direct Investment (FDI) inflows to the country last year declined marginally by 19.53 percent to $3.946.41 million compared to almost $4,904.41 million recorded in 2012.

A fourth quarter investment report released by the Ghana Investment Promotion Center (GIPC), which made this known, said the centre registered 417 projects for 2013, with a total estimated value of GH¢9.526 million ($4.262 million), compared to 399 projects registered in 2012 with a total estimated value of $5.630 billion.

Of the 417 registered projects, 310 were wholly-owned by foreign enterprises while 107 were joint ventures between Ghanaians and their foreign partners.

GIPC said the FDI inflows to the country in terms of the estimated value for the projects registered in 2013 amounted to GH¢8.820 million.

A total of 89,398 jobs are expected to be created from the investments that have come into the country.

And Ghanaians are expected to take up about 76,304 of the jobs to be created while the remaining 13,094 will be for the foreigners.

It stated that India, with 57 projects, topped the list of countries with the highest number of registered projects in 2013, while USA topped the list of countries with the largest FDI value, amounting to $1.213 million.

Mawuena Trebarh, acting Chief Executive Officer of GIPC, said FDI inflows to the country were very slow during the first half of the year, amounting to $562 million, though there was a significant increase in the rate during the second half of the year.

That, she said, could be attributed mainly to the “wait and see” attitude of the investors as a result of the uncertainties after the 2012 elections.

Mrs Trebrah said: “Our strategy for the last year has been based on three pillars, image building, experience and attaining tangible results.”

According to her, the overriding goal over the last 12 months and beyond was to create jobs and sustain economic growth.

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