China remains the country with highest FDIs in Ghana

Even though Ghana experienced a decline in foreign direct investment, China still remains the country with the highest investments in the first half of 2023.

This is consistent with what was recorded in the same period in 2022.

It was followed by the USA, the Netherlands, and Australia.

According to the Ghana Investment Promotion Centre (GIPC), the country recorded a 16 percent drop in investment projects in the first half of 2023.

The GIPC in a report noted that it registered 72 FDI projects compared to 86 projects in the same period last year.

The total estimated value of investments for the first half of 2023 was $274 million compared to $203 million, which represented a 35 percent increase.

“China with 16 projects brought in FDI of US$120.10 million, the USA with 9 projects brought in FDI of US$19.50 million, the Netherlands with 1 project brought in FDI of US$16.88 million, Australia with 4 projects brought in FDI of US$14.4 million, and Mauritius with 2 projects brought in FDI of US$11.06 million,’’ the report said.

The report added that “Out of the 72 projects registered, the manufacturing sector, with 32 projects, recorded the highest number of projects. It was followed by services and export trade, with 25 and 7 projects, respectively. General Trade recorded 4 projects, while the building and construction sector recorded 2 projects. The agriculture and liaison sectors registered one project each.”

According to the report, the FDI component for the first half of 2023 was $229 million, up from $187 million in the same period last year, which showed a 22 percent increase.

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