The Ghana Investment Promotion Center (GIPC) which has over the years positioned itself as the premier agency in Africa to compete globally for investment has doubled its investment flow to the tune of GH ¢1.15 billion. The amount which represents the figure for the year ending 2007 is the equivalent to US $1.2 billion. Mr. Robert Ahomka Lindsay, Chief Executive Officer of the center who made this known at a news conference in Accra stated that a total of GH ¢ 144 million of the investments made constituted new equity investment from new companies that registered in the year 2007 whilst 305 new projects registered with a total estimate of GH¢ 5.27 billion ($67 billion). In terms of performance, he stated that in 2006, the center was able to maintain a steady growth accruing an amount of GH ¢787 million and GH ¢2.22 billion. This he said confirms the center's stringent adherence to aspects of government policy on private sector development. During the year under review, an estimated 25,367 new jobs were created as against 12,044 in 2006. Explaining the rationale behind the recent retrenchment exercise at the center, Mr. Ahomka Lindsay said "the center has recruited, retrained and deployed 34 young graduates along the priority sectors, namely, agriculture/agribusiness, infrastructure, industry, financial services, ICT, tourism and services to pace up on investment promotion and facilitation". According to him, the move was undertaken due to the lack of skills of some of its staff. As an institution with the aim of bringing investment to Ghana, he noted that the GIPC is not against foreign investment in the country. The restructuring programme he said is intended to transform Ghana to become the preferred investment destination on the continent of Africa. That notwithstanding, he urged all businessmen and investors to comply with the country's investment code. Source: The Chronicle