President Nana Addo Dankwa Akufo-Addo has hinted at plans by his administration to establish One million Enterprises across the country as he commissions a 96,000 metric ton capacity processing plant of Premium Foods Limited.
The President explained the move forms part of his government’s commitment to Ghana’s industrialization; value addition, and job creation drive.
He made the statement at Kwaso in the Ejisu Municipality where he commissioned a new factory of Premium Foods Limited under the 1 District 1 Factory initiative.
Meanwhile, the Ghana Investment Promotion Centre (GIPC), is targeting to raise $3 billion in Foreign Direct Investment (FDI) for the country in 2021. This was disclosed by the CEO of GIPC, Mr Yoofi Grant at a press briefing on Sunday in Accra.
According to Mr Grant, $780 million in FDI had already been raised so far this year.
“For every country, foreign direct investments are recognised as very important to its economic and socio-economic development. In Ghana, I dare say that over the past few years we have upped our game and our economy has become more attractive. Indeed, I dare say that since 2017 Ghana’s economy grew by 8.1% and through 2019 we had an average growth of 7%. This symbolises a country that is walking the talk and doing all it needs to do to become one of the fastest-growing economies in the world.
“Accordingly, Foreign Direct Investments grew. Our FDI in 2017 was $4.9 billion; it dropped marginally in consonance with the drop in global FDIs in 2018 to $3.54 billion. In 2019, it further dropped to $1.01 billion. The interesting thing however is that, despite the negative impact of COVID-19 on global economies, Ghana saw an increase in FDIs in 2020 to $2.65 billion.”
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