The Acting Chief Executive of the Ghana Investment Promotion Centre (GIPC) Mrs Mawuena Trebarh has revealed that the Centre has registered 399 projects with a total estimated value of GH?10.14 billion (US$5.63 billion) in 2012.

mawena21The projects registered, she said, represented a decline of 22.37 per cent from the 514 projects with a value of US$7.68 billion in the corresponding period of 2011.

She was speaking at a press conference to release the Centre?s fourth quarter 2012 investment report in Accra, where she mentioned that the appreciable levels of Foreign Direct Investment (FDI) recorded, though 2012 was an election year was a reflection of investors? confidence in the economy.

She said the initial capital transfers for the registered projects in 2012 was GH?178.95 million and the FDI component of the estimated value of registered projects amounted to GH?8.83 billion with the local currency component amounting to GH?1.31 billion.

?The total number of jobs expected to be created from registered projects sums up to 24,562,? she added.

A total of 71 wholly-owned Ghanaian projects were registered in 2012 with a total estimated value of US$7.99 billion.

China with 56 projects, topped the list of countries with the highest number of registered projects within the year 2012. Lebanon, however, ranked first in the list of countries with the largest FDI value, amounting to US$1.49 billion.

In the same vein, the GIPC registered 94 new projects in the fourth quarter of 2012, out of which 63 were wholly-owned foreign enterprises valued at GH?1.05 billion.

The remaining 31 were joint ventures between Ghanaians and foreign partners valued at GH?132.97 million.

Most of the projects registered were in the services sector, general trading, building and construction and manufacturing, among others.

She said Ghana enters into a new year, 2013, with the expectation of improving upon its international rankings by instituting reforms that would improve the business environment and reduce the cost of doing business.

According to her, GIPC is positioning itself in that directions to attract and retain investments that will create jobs and add value to the country?s raw materials for export.

?The Centre will therefore remain focus on delivering on its mandate to ensure that Ghana attracts the best investments required at this period to aid its development,? she said.

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