Ghana records $ 874 million in domestic investment

Ghana recorded $ 874 million in internal investment in the first half of the year. With an investment of $ 874.01 million from 122 projects in the first half of 2021, Ghana’s attractiveness as an investment destination has proven to be reversible during the COVID-19 epidemic.

Of the total investment of $ 874.01 million, the foreign direct investment component was $ 829.29 million and the domestic component was $ 44.72 million.

FDI inflows of $ 829.29 million were a significant increase of 32.15% over domestic FDI inflows, compared to US $ 627.52 million recorded in the same period last year.

This strong FDI performance in the first half of the year was driven by success in key sectors, with 63 projects valued at $ 597.63 million, including the service sector, valued at $ 98.74 million with 24 projects in the manufacturing sector, as well as $ 41.87 million and $ 22.63 million in FDI, respectively. US dollar.

Now that the projects are fully operational, they are creating 8,931 jobs and improving overall employment. According to GIPC data, 8,091 (90.59 per cent) of these jobs will be for Ghanaians and the remaining 840 (9.41 per cent) will be for non-Ghanaians.

Ghana’s largest investment partners during this period were Singapore $ 307.50 million, Australia $ 204.01 million, India $ 61.57 million and the Netherlands $ 46.80 million. The United States and China have made significant investments.

Although Ghana’s consistent half-year performance indicates continued confidence in the Ghanaian economy by foreign investors, it is also worth noting that in the first half of 2021, a total of 27 Ghanaian projects were valued at a total of US $ 669.64 million. At the same time, existing companies contributed a total of $ 11.56 million in additional shares (cash and goods).

In terms of project spread, nine regions benefited from the spread of 122 projects. Greater Agra performed better than all other regions, with 96 projects representing 78.69 per cent of all projects submitted in the first half of the year. Other areas where projects were recorded were two (2) projects each in the western, puno and central and eastern regions with 8 and 9 projects, respectively, while one project each in Ahafo, the north and the upper west.

Overall, Ghana’s positive half – year FDI performance is in line with globally expected FDI inflows. Perhaps surprisingly, Ghana’s Govt.

However, the United Nations Conference on Trade and Development (UNCTAD) notes that the COVID-19 epidemic has had a significant impact on global foreign direct investment, with global FDI declining by a third to $ 1 trillion by 2020. In ten years. Through experience during the global financial crisis.

However, UNCTAD predicts that global foreign direct investment will increase by 10 to 15% by 2021. But the pace of economic recovery and the potential for epidemic recessions, as well as the potential impact of recovery cost packages on foreign direct investment and policy pressures, will affect investment outlook.

As the country’s leading investment promotion company, the Ghana Investment Promotion Center is confident in maintaining confident performance as it progresses in a new and innovative way.

The Center hopes to achieve this by reviving international investment as a channel for economic growth with a strong commitment to the international investment community and hosting the first annual investment summit titled “Spark Up 2021”.

In addition, attracting investment under Ghana’s Govt-19 Institutional Mitigation and Revitalization (CARES) initiative will be a priority for GIPC, which includes Ghana’s economic recovery, which will benefit all sectors of the economy.