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Business News of Friday, 23 October 2020


14,614 jobs to be generated from GIPC registered projects

The Ghana Investment Promotion Centre(GIPC) has revealed that a total of 14,614 jobs are expected to be generated from its 69 projects registered.

The projects which will operate at full capacity will provide 14,052 (96.15%) jobs available to Ghanaians whilst the remaining 562 (3.85%) are expected to be taken up by non-Ghanaians.

From January to June 2020, GIPC registered 69 projects with a total estimated value of US$688.74 million.

This comprised an FDI component of US$627.52 million and a local component of US$61.22 million.

Speaking to the press on Friday, October 23, 2020, CEO of GIPC, Yofi Grant, said his outfit is determined to play a crucial and indispensable role in developing both domestic and foreign investments.

“GIPC as an investment promotion agency is determined to play a crucial and indispensable role in supporting government’s efforts for developing both domestic and foreign investments through innovative and aggressive investment attraction strategies to support the economic recovery process and the transformational agenda through the Ghana Beyond Aid.

Further insights and analysis on investments recorded by the Centre are detailed in the report”, he explained.

He also indicated FDI flows into Ghana during the second quarter of 2020 has deviated from the global expected trend of declines, resulting in a significant increase in FDI inflows for the first half of the year.

Total investments recorded in the first half of 2020 amounted to US$869.47 million, with total FDI value amounting to US$785.62 million.