Ghana attracted 627.52 million U.S. dollars of foreign direct investment (FDI) in the first half of 2020, according to official data from the Ghana Investment Promotion Center (GIPC) on Friday.
“The FDI value of 627.52 million dollars was a considerable increase of about 409.10 percent from the FDI value of 123.26 million recorded within the same period in 2019, depicting a strong performance despite the global pandemic,” said Yoofi Grant, the Chief Executive Officer of GIPC.
Concerning the sources of investment, China has the highest number of 12 new FDI projects, and the United Kingdom followed with nine projects. In terms of value, China was among the top 10 countries investing in Ghana over the period.
Of the 69 new projects recorded over the period, general trading recorded the highest value of 246.05 million dollars, while the mining exploration sector followed with 231.02 million dollars.
“Despite the sluggish start in the first quarter of 2020 and a worrying slump at the beginning of the second quarter due to severe lockdown measures to contain the spread of COVID-19, FDIs to Ghana have begun to rebound, resulting in a notable increase recorded over the first half of the year,” he said.
