Project managers key in attracting foreign investment

By Elizabeth PUNSU

Speakers at this year’s annual conference of the Institute of Project Management Professionals (IPMP) have underscored the critical role of project managers in attracting Foreign Direct Investment (FDI) for the country.

Foreign Direct Investment (FDI) is crucial for the economic growth of any country, as it plays a key part in international economic integration by creating long-term ties between economies.

The conference, held in Kumasi on the theme ‘The Role of Project Management in Attracting Foreign Direct Investment’, saw Project Management professionals from all over the country in attendance; with speakers from both industry and academia speaking on various topic and issues regarding project management.

President of IPMP, Dr. Mark Owusu Ansah, giving his acceptance speech, indicated that effective project management ensures projects are delivered on time and meet international standards—a hallmark that foreign investors look for when deciding where to invest.

“In Ghana, the successful execution of large-scale projects such as highways, energy plants and telecommunications infrastructure sends a powerful message to international investors: that Ghana is a place where their investments will be handled with precision and professionalism. We, as project managers, are the custodians of this reputation.

Every successful project strengthens investor confidence, making our country more attractive for future FDI,” Dr. Owusu Ansah said.

Dr. Owusu Ansah further mentioned that project managers serve as the bridge connecting government, the private sector and international investors. He emphasised their ability to coordinate efforts and manage expectations to ensure that projects are executed smoothly.

“Complex projects often require partnerships between stakeholders, including local and international contractors, financiers, regulators and communities. As project managers, we connect these diverse actors.

Our ability to coordinate efforts, align goals and manage expectations helps ensure that projects are executed smoothly, fostering a conducive environment for foreign investors. We must champion a collaborative mindset that embraces public-private partnerships and encourages global best practices,” he added.

Guest speaker Professor Jonathan Annan, from Strathmore University, Kenya, also noted that infrastructure is a cornerstone of economic growth and is often the first area foreign investors consider when entering a market. Therefore, it is important for project managers to ensure their work meet international standards.

“When investors see that Ghana is equipped with world-class roads, ports, airports and communication networks, they are more likely to view the country as a viable destination for their investments. We must continue to champion the efficient execution of these projects to ensure they meet the highest standards of safety, quality and sustainability,” he said.

Executive Director of IPMP, Professor David Acquah, urged members to leverage technology and innovation in their projects to maximise productivity and timeliness.

“Additionally, we must leverage technology and innovation in our projects. Digital transformation and advanced project management tools will allow us to streamline processes, reduce costs and improve project outcomes.

The projects we manage today are the foundation for future investments. Our commitment to excellence, collaboration and innovation will define Ghana’s standing on the global stage,” he said.

Pro Vice Chancellor of KNUST, Prof. David Asamoah, encouraged IPMP members to invest in capacity-building to ensure they meet global standards in their field.

“The future of project management in Ghana is bright; but to maximise our impact on attracting FDI, we must continue building our capacity. As an institute, we are committed to fostering a culture of continuous learning and development. By improving our skills and adopting new methodologies, such as agile project management, we can be more responsive to the changing needs of investors and the global market,” Prof. Asamoah added.

IPMP conference

New members were inducted into the IPMP and new council members were elected and sworn into office. Additionally, several members were promoted to higher levels; and deserving members and consultants who have helped elevate the image of the organisation were awarded.

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