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May 5, 2021
By: Norvisi Eyiram Mawunyegah
Mr. Kojo Oppong Nkrumah, Minister of information has publicized that the country received 279 Foreign Direct Investment, FDI, projects valued at US$2.7 billion in 2020 despite the COVID-19 pandemic.
The investment will be in areas such as manufacturing, services, building and construction, agriculture, mining, petroleum and export trading with a projected job for more than 27,000 people. The projects will be implemented in Greater Accra, Ashanti, Central and Western Regions. The rest are Volta, Oti, Eastern and Northern Regions.
Mr. Nkrumah, who announced this at a media briefing in Accra yesterday, said last year’s FDI was about a 140 percent increase in investment over that of 2019 because of sound monetary and fiscal policies and expansion of the country’s economic space.
He said 184 of the projects will go into services, 57 to the manufacturing sector, 15 to export trading, and 10 to general trading. Mr. Oppong Nkrumah named some of the foreign countries that made investments into the local economy as South Africa, China, UK, Netherlands, and Australia.
Mr. Oppong Nkrumah explained that GIPC had been tasked to provide quarterly updates on the progress of work of those investment opportunities, adding that the database on the first-quarter update on work done so far is ready and would be published soon.