GIPC Reports Positive Year-on-Year Investment Growth Amid Economic Challenges
GIPC Reports Positive Year-on-Year Investment Growth Amid Economic Challenges
- GIPC has acknowledged that while the road to economic recovery is challenging, the overall trend is positive
- Mr. Grant stated that the GIPC is actively working to attract high-quality
- Mr. Grant emphasized that the GIPC sees itself as a crucial partner
The Ghana Investment Promotion Center (GIPC) has acknowledged that while the road to economic recovery is challenging, the overall trend is positive, with investments showing year-on-year growth despite some quarterly fluctuations.
In a message from CEO Yofi Grant included in the Second Quarter of 2024 Investment Report, the GIPC noted that the unpredictability of global events has impacted even the best-laid plans in recent years.
To address these challenges and capitalize on emerging opportunities, Mr. Grant stated that the GIPC is actively working to attract high-quality, sustainable investments to Ghana.
“The Center is making significant progress in fostering international partnerships and enhancing Ghana’s investment landscape through strategic initiatives. Recently, the GIPC signed a Memorandum of Understanding on investment promotion and facilitation with the Kenya Investment Authority (KenInvest) and hosted a CEO breakfast meeting. This event provided a valuable platform for stakeholders in the tourism sector to discuss government policies and regulatory reforms aimed at boosting private sector involvement in tourism infrastructure development,” he explained.
Mr. Grant emphasized that the GIPC sees itself as a crucial partner in accelerating economic growth and is dedicated to enhancing Ghana’s global market presence through innovative investment promotion strategies.
In the first half of 2024, Foreign Direct Investments (FDIs) from 69 registered projects totaled $179.07 million. These investments are projected to create 8,524 jobs once fully operational, targeting sectors such as agriculture, construction, export and trade, manufacturing, services, and tourism.
Additionally, 20 wholly Ghanaian projects were registered with an estimated value of $476.69 million.
