• About
  • Advertise
  • Privacy Policy
  • Contact
Thursday, September 21, 2023
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Ghana’s FDI Declines In The First Half Of 2023

September 14, 2023
Stephen M.CbyStephen M.C
in Economy, Sub Top Stories1
0
Ghana’s FDI Declines In The First Half Of 2023

A report for the first half of the year showed that Ghana has experienced a decline in its Foreign Direct Investment (FDI) as the Ghana Investment Promotion Centre(GIPC) recorded a 16 percent drop in investment projects in the first half of 2023.

According to the report, the GIPC registered 72 FDI projects compared to 86 projects in the same period last year. However, 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.

The FDI component, according to the report, 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.

RelatedPosts

ISSER Cautions Gov’t to Suppress Appetite For High-Interest Loans

Ghana’s Dwindling FDI, A Canary in the Coal Mine

Flung Into Uncertainty By Torrents Of Death

A sectoral distribution of the data from the Centre revealed that the manufacturing sector recorded the highest number of projects in the first half of 2023, in contrast to the service sector recording the highest number of projects in the same period in the previous year.

The report stated 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,” the report stated.

Ghana’s Highest Number of FDI Projects

Consistent with the first half of 2022, China remains the country with the highest number of FDI projects in Ghana in the first half of 2023. The report stated that China recorded 16 projects in the first half of 2023, down from 19 projects in the same period last year.

“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 Greater Accra Region continues to be the region with the highest number of FDI projects as it recorded 63 projects, accounting for 87.5 percent and 72 percent of all the projects registered in the first half of 2023 and 2022, respectively.

The other regions are Ashanti with seven projects, and the Upper East and Western North regions record one project each.

In terms of jobs created in the years under review, the report stated that 72 projects are expected to create 6,247 jobs in the first half of 2023, while 86 projects were expected to create 4,066 jobs in 2022.

However, this report is in stark contrast to UNCTAD’s World Investment Report 2022, which stated that FDI inflows to Ghana increased in 2021, thanks to projects in extractive industries. According to UNCTAD’s Investment Trends Monitor, global FDI momentum weakened in 2022 in the context of the war in Ukraine, rising food and energy prices, financial turmoil and debt pressures. Ghana’s top investing economies are South Africa, the Netherlands, France, Mauritius and China (IMF, FDI position).

READ ALSO: Agric Minister Hints of Setting Up MoFA’s Own Commodity Price Index

Tags: foreign direct investment (FDI)Ghana Investment Promotion Centre(GIPC)Ghana’s FDI Declines In The First Half Of 2023UNCTAD's World Investment Report 2022

Related Posts

ISSER Director Charges Government to Be Transparent With Expenditure Reductions In Mid-Year Budget Review
Economy

ISSER Cautions Gov’t to Suppress Appetite For High-Interest Loans

September 20, 2023
Ghana’s Dwindling FDI, A Canary in the Coal Mine
Economy

Ghana’s Dwindling FDI, A Canary in the Coal Mine

September 19, 2023
UN Relief Chief Concerned About Flood In Libya
Opinions

Flung Into Uncertainty By Torrents Of Death

September 18, 2023
Cocoa Price ‘Inducement’ Goes Wrong, Farmers Go For Gold
General News

Cocoa Price ‘Inducement’ Goes Wrong, Farmers Go For Gold

September 18, 2023
Fresh Debt Exchange Looms As Gov’t Invites ESLA, Daakye Bondholders
Economy

Fresh Debt Exchange Looms As Gov’t Invites ESLA, Daakye Bondholders

September 14, 2023
African Union Iterates Plans To Launch Its Own Credit Rating Agency Next Year
Economy

African Union Iterates Plans To Launch Its Own Credit Rating Agency Next Year

September 12, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

Randy Abbey Criticizes Chief Justice Over Her Failure to Act On NDC Suit

Next Post

IES Predicts Hike In Diesel And LPG Prices

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Gov’t Partners FAO TO Launch €10million Project to Address Food Security in Northern Ghana
Agribusiness

Gov’t Partners FAO TO Launch €10million Project to Address Food Security in Northern Ghana

by Stephen M.CSeptember 21, 2023
Police Arrest Of Occupy Jubilee House Protestors   Needless- George Opare Addo
General News

Police Arrest Of Occupy Jubilee House Protestors   Needless- George Opare Addo

by Evans Junior OwuSeptember 21, 2023
EC Limited Voter Registration Exercise In Its District Office Untenable- Dafeamekpor
General News

EC Limited Voter Registration Exercise In Its District Office Untenable- Dafeamekpor

by Evans Junior OwuSeptember 21, 2023
Foreigners Make a lot of Money on GSE, But Ghanaians Prefer Betting- Ekow Afedzie
Securities/Markets

Ecobank Rescues GSE in a Mix Trading Day

by Stephen M.CSeptember 21, 2023
Russian Drone Attack Intercepted In Lviv
Europe

Russia Launches Missile Attacks On 8 Ukrainian Regions

by Comfort AmpomaaSeptember 21, 2023
Perez Musik Defends Gospel Musicians Competing For Awards
Entertainment

Perez Musik Defends Gospel Musicians Competing For Awards

by Esther Korantemaa OffeiSeptember 21, 2023
Gov’t Partners FAO TO Launch €10million Project to Address Food Security in Northern Ghana
Police Arrest Of Occupy Jubilee House Protestors   Needless- George Opare Addo
EC Limited Voter Registration Exercise In Its District Office Untenable- Dafeamekpor
Foreigners Make a lot of Money on GSE, But Ghanaians Prefer Betting- Ekow Afedzie
Russian Drone Attack Intercepted In Lviv
Perez Musik Defends Gospel Musicians Competing For Awards
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In