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FDI Increased By 183% in Third Quarter   
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Provisional figures at the Ghana Investment Promotion Centre (GIPC) indicate that Foreign Direct Investment (FDI) registered in the country would increase both in value and numbers.

The Chief Executive Officer (CEO) of the centre, George Aboagye, who said this in Accra last week, indicated that the FDI transfer into the country for the third quarter of 2009 amounted to US$261 million as compared to US$92.32 million recorded in the second quarter of 2009. This represents an increase of 182.71%.

This shows that the number of companies or projects registered during the period would go up as well as job creation in the sectors.
According to him, despite these figures being on the high side, the centre was still collating more figures, especially from Ghanaian-owned business firms and joint venture companies.

He noted that the centre will release the final report after collating all figures from all sectors. Within the second quarter of 2009, 83 projects were registered, 56, which represent 67.47% were wholly-owned foreign enterprises and 27 which represent 32.5% were joint ventures between Ghanaian and their foreign partners.

Meanwhile, a 25-member business delegation from Ghana, led by the GIPC, embarked on an investment promotion mission to South Africa from 18th to 31st October, this year. The mission was organised by GIPC, in collaboration with the Department of Trade and Industry (DTI), WESGRO (Western Province), Kwazulu Natal Trade and Investment and the Johannesburg Chamber of Commerce, all the South Africa.

The objective of the mission is to present investment opportunities available in Ghana to targeted potential investors in South Africa. The delegation will also be exploring business opportunities for Ghanaian entrepreneurs in South Africa and they will be touring the Western Cape, Kwazulu Natal and Gauteng provinces.

The delegation will hold seminars to discuss business opportunities, as well as investment regulations, processes and procedures.
Source: Business Week

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