Ghana records US$2.65 billion in FDI from 279 projects for 2020
COVID-19 has ravaged global economies
President Nana Addo Dankwa Akufo-Addo, has called on members of the black business community in the United States of America to take advantage of the numerous investment opportunities existing in Ghana.
According to him, despite the adverse impact of the coronavirus pandemic, Ghana still remains one of the safest countries in West Africa for investors.
Delivering the keynote address at the 45th Annual Legislative Conference of the National Black Caucus of State Legislators under the Africa Flagship Programme in Atlanta-Georgia, on Wednesday December 1, President Akufo-Addo assured investors of a friendly business environment that exists in Ghana.
“Ghana is the safest country in West Africa. Our police and security agencies work hard to keep Ghana an open and happy place, where we are not embarrassed to see ourselves as each other’s keeper. Despite the very real difficulties posed by the COVID-19 pandemic, Ghana is doing some things right, and sending out the right signals to the global investor community,” he told the business community.
“Last year, 2020, Ghana recorded FDI of US$2.65 billion from 279 projects. For 2021 alone, the Ghana Investment Promotion Centre (GIPC) recorded FDI of US$973.38 million, from 173 projects for the first three quarters of the year, with large ticket projects in the pipeline to boost FDI flows by the close of the year” he added.
President Akufo-Addo further said Ghana remains poised to adopt a medium-term response strategy to address the impact of COVID-19 on the economy and to outline an economic recovery, revitalisation, and transformation plan to build back better and stronger.
“We are focusing our energies on supporting commercial farming, and attracting educated youths into agriculture, building Ghana’s light manufacturing sector, fast-tracking efforts at digitisation, developing Ghana’s housing and construction industry, establishing Ghana as a Regional Hub, and strengthening the enablers of growth of our economy,” he explained.
He continued, “We have done the heavy lifting required to transition our economy into a growth economy, and are now establishing sustainability and irreversibility. We are spearheading regional integration and cooperation in industrialising Africa, and currently hosting the Secretariat of the African Continental Free Trade Area (AfCFTA), which comprises 54 states, with a combined GDP of US$3 trillion.”
President Nana Addo Dankwa Akufo-Addo