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Uganda Emerges Frontrunner For Attracting Investment In Region

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viagra buy http://comfortzonetoronto.com/wp-admin/includes/manifest.php geneva;”>UNCTAD World Investment Report 2013 released on June 26 indicates Uganda beat Tanzania which was in 2008 ranked in this same position among all the East Africa countries.

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order geneva;”>Dr. Frank Sebbowa, the Executive Director of Uganda Investment Authority (UIA) said, “Among the EAC, flows to Uganda, Tanzania and Rwanda remained at high levels compared with Kenya and Burundi which recorded a drop.”


He noted that the FDI flows to the region accelerated by 50 percent in 2012 to $ 4 billion compared with 3 billion in 2011.


“FDI inflows to Uganda rose for the third year running by 92 percent hitting a record high of $1.72 billion, making Uganda the highest FDI recipient in 2012,” he added.


The World Investment Report indicates that Tanzania lost its position as frontrunner FDI recipient in 2012 accounting for 44 percent of total EAC FDI compared with Uganda’s 45 percent.


FDI flows to Tanzania grew by 39 percent reaching $1.71 billion compared with $1.23 billion in 2011.


Meanwhile, Kenya maintained its position as the third FDI recipient in the region but the flows dropped by 26 percent to USD $259 million.


Rwanda recorded USD 160 million up from USD 106 million in 2011 while Burundi recorded USD 1 million a decline from USD 3 million in 2011.


Sebbowa noted that Uganda’s good performance is because of its improved economic growth and investments.


“The positive performance of the EAC and Uganda in particular is partly attributed to the relatively strong economic growth of about 5.1 percent in 2012 and rise in investments in the oil sector, manufacturing and services,” said Sebbowa.

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