Zimbobeauty
November 11th, 2011, 03:35 PM
Ghana’s Foreign Direct Investment (FDI) for the third quarter of 2011 which span from July 1 to September 30, exceeded the US$ 1. 5 billion target set for the entire year, according to the Ghana Investment Promotion Centre (GIPC).
The GIPC said investment for the third quarter was US$ 3. 25 billion, representing over 99 per cent of the estimated value.
Announcing these figures on Thursday, the Chief Executive Officer of the GIPC, George Aboagye, indicated that the highest contributor to the total amount for the third quarter was the Korean construction Company STX.
He said STX alone contributed US$ 2. 5 billion out of the US$ 3. 25 bn for the third quarter.
In all, a total of 161 new projects were registered for the third quarter.
Mr. Aboagye, however, bemoaned the late registration of STX Korea indicating that it would have averted most of the troubles the construction firm is facing.
“All the time that STX was discussing their projects with various ministries as well as Parliament and government, they had not registered with GIPC and it indicates that without registering with GIPC there are a lot of problems that incoming investors could face,” he stated.
“If it had registered with GIPC right from the onset, we believe that we would have made a lot of progress and that we would have advised them on how to establish firmly in the country. ”
A total of about 39,000 jobs are expected to be created by all of the registered projects, out of which about 36,000 would be for Ghanaians.
http://www.citifmonline.com/index.php?id=1.287148.1.652372
The GIPC said investment for the third quarter was US$ 3. 25 billion, representing over 99 per cent of the estimated value.
Announcing these figures on Thursday, the Chief Executive Officer of the GIPC, George Aboagye, indicated that the highest contributor to the total amount for the third quarter was the Korean construction Company STX.
He said STX alone contributed US$ 2. 5 billion out of the US$ 3. 25 bn for the third quarter.
In all, a total of 161 new projects were registered for the third quarter.
Mr. Aboagye, however, bemoaned the late registration of STX Korea indicating that it would have averted most of the troubles the construction firm is facing.
“All the time that STX was discussing their projects with various ministries as well as Parliament and government, they had not registered with GIPC and it indicates that without registering with GIPC there are a lot of problems that incoming investors could face,” he stated.
“If it had registered with GIPC right from the onset, we believe that we would have made a lot of progress and that we would have advised them on how to establish firmly in the country. ”
A total of about 39,000 jobs are expected to be created by all of the registered projects, out of which about 36,000 would be for Ghanaians.
http://www.citifmonline.com/index.php?id=1.287148.1.652372