The Chief Executive of the Ghana Investment Promotion Centre, Yoofi Grant, said the US$ 10 billion targeted by his outfit as Foreign Direct Investment (FDI) has been reviewed to about US$11 billion due to the fortunes and successes being attained by the country’s economy .
“Everything is going well with Ghana’s economy; interest rate is drastically coming down. The same is happening with inflation. The exchange rate has been stable, supported with political stability. The cost of power generation has reduced and cost of doing business as well. There is also a conducive environment for doing business. This makes Ghana a preferred destination for doing business. As I speak with you lost of investors are trooping in and investing their funds in various sectors of the economy. This gives us the hope that foreign direct investment will exceed the initial target,” he added.
The GIPC last year recorded foreign direct investment of US$4.9 billion as against a target of US$5 billion.
Mr. Grant stated that some of the projects that will help the center exceed its target included oil and gas deal signed this year.
By Adu Koranteng