George Aboagye – Chief Executive Officer of GIPC

A total of 8,351 jobs are expected to be created out of 117 new projects registered in the fourth quarter of 2011, representing 134.32 percent over 3,564 expected jobs to be created in the corresponding quarter of 2010.

According to the Ghana Investment Promotion Center (GIPC), 7,629 of the jobs representing 91.35 percent were for Ghanaians, while 722 representing 8.65 percent would go to expatriates.

In terms of the sectors, agriculture recorded the highest with 3,277 jobs followed by manufacturing, building and construction and services with 1,357, 930 and 918 jobs respectively.  General trading and liaison were also expected to create 844 and 263 jobs respectively.

With regard to the sources of the Foreign Direct Investments (FDIs), China, with 25 projects, topped the list of countries with the highest number of registered projects. 

Korea with $2.25 billion as the estimated value of investments topped the list of countries with the largest value of investments registered during the quarters.

Seven out of the 10 regions directly benefited from the registered projects during the period from October to December 2011. They were Ashanti, Central, Eastern, Greater Accra, Northern, Volta and Western regions.

Greater Accra recorded the highest number of projects with 82.91 percent.

Some of the major companies attracted into the country during the quarter were Asanteman Hong Group Limited, a real estate and general construction firm, Fresco Bio farms Limited, Rider Steel Ghana Limited and Armajaro Cotton Ghana Limited.

George Aboagye, Chief Executive Officer (CEO), GIPC, commenting on the FDIs, said his outfit will stay committed to its mandate and promote Ghana’s variety of investment opportunities geared towards the realization of the country’s developmental goals.

He noted that the year 2011 was indeed an action year for the country in terms of attracting FDIs, adding that Ghana exceeded FDI inflows target of $1.5 billion by $5.32 billion for 2011.

In 2011, total FDI recorded amounted to $6.82 billion while total initial capital transfers were $213.29 million.

By Charles Nixon Yeboah

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