The Chief Executive Officer of the Ghana Investment Promotion Center(GIPC), Yofi Grant has disclosed that the manufacturing sub-sector has recorded some increase in investment in the third quarter of the year.
The GIPC is targeting five billion dollars of Foreign Direct Investment by end of 2017.
Speaking on the Citi Breakfast Show to discuss the 2018 budget, Mr. Grant maintained that the center is poised to attract more investors into the manufacturing subsector of the country.
“For the third quarter of 2017 manufacturing has raked in the most FDI into Ghana. For example I can see China gradually exporting its manufacturing capability into Ghana because maybe they’re seeing that this is a country that works, we’re seeing India also coming, and we’re seeing the UK accelerate its program with Ghana in many ways,” he said.
Mr. Grant explained that the center is urging some of the companies to begin operations on a micro level to expand with time.
He added that the center is also working to create an avenue for local companies to partner foreign investors.
“We’re seeing manufacturers coming in. Some of them are starting small to grow big. What we encourage at GIPC is that any of these that are coming with FDI should partner indigenous human capital or indigenous business people such that our people can also be elevated alongside, and we’re seeing that. So there is a tendency of us to look at manufacturing in a more serious way than we have in the past,” he said.
–
By: Lawrence Segbefia/citibusinessnews.com/Ghana