The Ghana Investment Promotion centre (GIPC) registered 48 projects during the third quarter of 2004 with initial foreign direct investment inflows yielding 5.37 million dollars, according to a GIPC report.
Statistics on registered projects indicated that total initial equity capital attracted during the first three quarters of the year under review was 16.05 million dollars compared with 12.9 million dollars and 12.94 million dollars for all the four quarters of 2001 and 2002 respectively.
Indications are, that this year?s figure would be lower than the figure of 38.12 million dollars recorded in 2003. The high figure for 2003 was due to an equity investment of US$21.03 million by Societe Generale in SSB Bank.
The regional distribution of the registered projects shows the concentration of most of the projects in the Greater Accra Region. About 78.83 per cent of all registered projects are found in the Greater Accra Region, 6.98 percent in Ashanti, Western Region has 4.59 per cent, Central has 3.40 per cent, Eastern 2.86 per cent, with the remaining five regions sharing only 3.33 per cent of the projects.
GIPC hoped that the institution of locational tax incentives to encourage companies to establish in other regions announced in the 2004 budget would appeal to investors and therefore result in more of them locating outside the Greater Accra Region.
