Singapore is top investor

Jan 13, 2009

SINGAPORE has overtaken Uganda as the leading investor, the Uganda Investment Authority’s (UIA) board chairman, Patrick Bitature, has said.

By David Muwanga

SINGAPORE has overtaken Uganda as the leading investor, the Uganda Investment Authority’s (UIA) board chairman, Patrick Bitature, has said.

“Singaporeans plan to invest in three projects worth $465.8m that will create 920 jobs,” Bitature said.

He said Ugandans plan to invest in 94 projects worth $416.4m that will create 13,431 jobs.

Investors from Singapore are planning to invest $406m in a telecom company called Sure Telecoms. They will also invest $56m in the generation and distribution of electricity and $3.3m in the manufacturing and assembling of computers.

Belgium is in the third position. Bitature said the most attractive sectors in 2008 were transport, communication and storage with 33 projects worth $948.1m.

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