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Business News for Thursday, March 11, 2021
Source: Starr FM
2021-03-11
Executive Director of the Ghana Investment Promotion Center, Yofi Grant
Ghana acquired $ 2.65 billion as Foreign Direct Investment (FDI) for the fourth quarter of 2020, representing an increase of 130% compared to FDI for the third quarter of 2020.
The Ghana Investment Promotion Center in its Investment report for the fourth quarter of 2020 said that the significant FDI recorded was against expectations following the Covid-19 outbreak, but promoted government policies and interventions to keep the economy fertile to Foreign investment.
According to the CEO of the Ghana Investment Promotion Center, Yofi Grant, Ghana and Nigeria rank second in the ranking of countries with the highest foreign direct investment in Africa.
Introducing the 2020 Q4 report, Yofi Grant mentioned that for the year under review, Ghana had registered more than 270 new projects in 8 of the 16 regions of the country.
These projects are expected to create more than 27,000 jobs in the country. The countries that invested most of the country are China, the United Kingdom, South Africa, Australia and the Netherlands.
The executive director of the Ghana Investment Promotion Center also praised local businesses for their role in investing in the economy.
He mentioned that in the year analyzed, more than 50 local companies were registered, which generated more than 200 million dollars for the country.
He went on to warn that the huge export campaign compared to import will go a long way to taking a negative toll on the country’s resources.
Calls for an end to the export of economic resources.
The GIPC said that 2021 has also started on a very good note, with around $ 590 generated as Foreign Direct Investment so far. The Investment Promotion Center expects to acquire around $ 3 billion by December 2021.
