China on top of FDI new projects in Ghana for Q2

ACCRA - With a total of 23 new projects, investment from China remained on top of new foreign direct investment (FDI) projects registered in Ghana for the second quarter of this year, the Ghana Investment Promotions Center (GIPC) announced here on Thursday.

However, the investments from Netherlands, valued at over $129.7 million, represented the highest in the value for projects registered in the country between April and June, GIPC chief executive officer George Aboagye told the quarterly press conference.

A total of 127 new projects, valued at $600.3 million, were signed in the second quarter while total initial capital transfers of $97.03 million were realized, Aboagye said.

FDI component of the estimated value of the projects amounted to 828.44 million cedis, approximately $565.62 million, representing 92 percent of the total estimated value of the projects.

The total foreign ownership of the investments was 445.02 million cedis, or $296.68 million, while the joint venture projects were valued at 561.36 million cedis ($374.24 million) and the wholly-owned foreign enterprises were valued 339.09 million cedis ($226.06 million).

In all, 7,408 jobs were expected to be created out of the 127 registered projects, with 6,673, or 90.08 percent of the jobs reserved for Ghanaians while 735 or 9.92 per cent were for expatriates, he added.