Despite a decline in foreign direct investment (FDI) in Ghana, China maintains its top position for investments in the first half of 2023, consistent with 2022 figures.
According to the Ghana Investment Promotion Centre (GIPC), there was a 16% decrease in investment projects, with 72 FDI projects in 2023 compared to 86 in the previous year.
The total estimated investment value in H1 2023 reached $274 million, a 35% increase from the $203 million recorded in the same period in 2022.
China led the way with 16 projects, attracting $120.10 million in FDI, followed by the USA with 9 projects, bringing in $19.50 million.
The Netherlands contributed $16.88 million with 1 project, Australia had 4 projects totaling $14.4 million, and Mauritius contributed $11.06 million with 2 projects.
The report highlighted that the manufacturing sector took the lead with 32 projects, followed by services and export trade with 25 and 7 projects, respectively.
General Trade recorded 4 projects, while the building and construction sector had 2 projects. The agriculture and liaison sectors each registered one project.
FDI in the first half of 2023 amounted to $229 million, marking a 22% increase from the $187 million recorded during the same period in the previous year.