Path to economic recovery challenging but overarching trend remains positive – GIPC

The Ghana Investment Promotion Center (GIPC) has indicated that the path to economic recovery is indeed challenging, but the overarching trend remains positive – where investments recorded may fall quarter on quarter but experience growth year on year.

In its Chief Executive Officer, Yofi Grant’s message in the Second Quarter of 2024 Investment Report, the Center said the unpredictability of global events and their impact on even the most meticulously crafted plans has been evident in recent years.

To navigate these challenges and seize emerging opportunities, Mr Grant said the GIPC is actively working to attract high-quality, sustainable investments into Ghana.

“The Centre is making significant strides in fostering international partnerships and advancing Ghana’s investment landscape through strategic initiatives. Recently, GIPC signed an International MoU on investment promotion and facilitation with the Kenya Investment Authority (KenInvest) and organised a CEO’s breakfast meeting which provided a valuable platform for stakeholders in the tourism sector to discuss government policies and regulatory reforms aimed at enhancing private sector participation in tourism infrastructure development”, he explained.

He continued that GIPC views itself as a key partner in accelerating economic growth and is committed to enhancing Ghana’s global market presence through innovative investment promotion strategies.

In the first half of 2024, Foreign Direct Investments (FDIs) attracted from 69 registered projects, amounted to US$179.07 million.

These investments are expected to generate 8,524 jobs once fully operational, targeting sectors such as Agriculture, Building and Construction, Export and General Trade, Liaison, Manufacturing, Service, and Tourism.

Additionally, 20 wholly Ghanaian projects were registered with an estimated value of US$476.69 million.