Over 2,000 jobs to be created soon – GIPC

The Ghana Investment Promotion Centre (GIPC) has attracted 39 newly registered investment projects into the country at an estimated value of $249.49 million between January to March in the first quarter of 2016.

The investments are expected to create a total of 2,489 jobs. The results of the quarter investment showed a significant increase as compared to 2015 of over 200% in the local component of total estimated value of registered projects.

The Foreign Direct Investment (FDI) component of the estimated value was $157.57 million while the local component amounts to $91.92 million. Thirty of the newly registered projects representing 76.92% were wholly foreign owed enterprises valued at US$163.61 million and constitute 65.58% of total value of the first quarter registered entities.

The remaining nine (9) new companies constituting 23.08% were joint ventures between Ghanaians and their foreign partners valued at $85.88 million which is 34.42% of the total estimated value of registered new projects.

A total of 12 investments were made in the services sector at an estimated percentage value of 60.36%, building and construction at an estimated value of 25.84%, manufacturing at 5.98% and general trading valued at 4.63%.

The rest of the quarter’s investment includes liaison which estimated at a value of 2.5%, agriculture at a percentage value of 0.04% and tourism at an estimated valued at 0.24%.

A total of 188 projects were renewed in a quarter under review representing an increase of 11.40% compared with an initial investment value of $363.33 million.