Uganda Tops EA Investment Bid
Mar 21, 2003
Uganda is leading its two neighbours, Kenya and Tanzania in attracting foreign direct investment inflows (FDI).<br>
By David Muwanga
Uganda is leading its two neighbours, Kenya and Tanzania in attracting foreign direct investment inflows (FDI).
In the year's 1994/1995,Uganda had an average in flow of US$44m worth investments from foreign countries compared to Tanzania that had $ 39m while Kenya had $ 20m.
In 1996, Uganda had $121m worth of investments; Kenya's fell from the previous years $ 20m to $13m while Tanzania's investments rose to $149m.
“Although the three countries had the foreign direct investments increasing from 1997 up to the year 2001, Uganda is still leading.' Uganda Investment Authority Executive Director Dr. Maggie Kigozi said in a paper she presented at the East African Petroleum conference.
The conference opened by Kenya's Vice President Kijana Wamalwa and attended by the three East African ministers of energy was held from March 5-7 at Safari park hotel in Nairobi
However, Uganda in 1997 experienced a shortfall of $46m meaning she got only $175m but in 1998 the figure rose again to $ 210m.
Kenya in 1997 attracted investments worth $40m while Tanzania had $159m up from $149m in the past year.
In the two years of 1998 and 1999, Kenya attracted investments worth $42m each year while Tanzania's rose from $172m in 1998 to $183m in 1999 and Uganda experienced an increase from $210m the year 1998 to $222m in 1999.
She said that Kenya's investments fell in year 2001 to $50m from $127 in the year 2000.
The situation was the same with Uganda that experienced a fall from $254m in the year 2000 to $229m in the year 2001.
Tanzania's rose from $193m in the year 2000 to $224m in the year 2001. Ends
Uganda is leading its two neighbours, Kenya and Tanzania in attracting foreign direct investment inflows (FDI).
In the year's 1994/1995,Uganda had an average in flow of US$44m worth investments from foreign countries compared to Tanzania that had $ 39m while Kenya had $ 20m.
In 1996, Uganda had $121m worth of investments; Kenya's fell from the previous years $ 20m to $13m while Tanzania's investments rose to $149m.
“Although the three countries had the foreign direct investments increasing from 1997 up to the year 2001, Uganda is still leading.' Uganda Investment Authority Executive Director Dr. Maggie Kigozi said in a paper she presented at the East African Petroleum conference.
The conference opened by Kenya's Vice President Kijana Wamalwa and attended by the three East African ministers of energy was held from March 5-7 at Safari park hotel in Nairobi
However, Uganda in 1997 experienced a shortfall of $46m meaning she got only $175m but in 1998 the figure rose again to $ 210m.
Kenya in 1997 attracted investments worth $40m while Tanzania had $159m up from $149m in the past year.
In the two years of 1998 and 1999, Kenya attracted investments worth $42m each year while Tanzania's rose from $172m in 1998 to $183m in 1999 and Uganda experienced an increase from $210m the year 1998 to $222m in 1999.
She said that Kenya's investments fell in year 2001 to $50m from $127 in the year 2000.
The situation was the same with Uganda that experienced a fall from $254m in the year 2000 to $229m in the year 2001.
Tanzania's rose from $193m in the year 2000 to $224m in the year 2001. Ends