Burundi woos Ugandan investors again
Oct 10, 2010
BURUNDIAN government has reassured investors that security is the country’s number one priority as it seeks to tap into the foreign direct investment opportunities provided by the East African market.
By David Ssempijja
BURUNDIAN government has reassured investors that security is the country’s number one priority as it seeks to tap into the foreign direct investment opportunities provided by the East African market.
Burundian President Pierre Nkurunziza explained that though the country was still nursing wounds of the political instability it suffered for at least a decade, the current level of democracy and security can enable investments to flourish.
He said the country was also directing efforts towards ensuring zero tolerance for corruption, as a tool to enhance investor confidence.
“Burundi desperately needs more foreign investors.
“Though we have considered security as the baseline in enabling a conducive investment climate, we have other incentives in place that will make your investments profitable,†Nkurunziza explained in a speech read by his second Vice-President Gervaise Rufyikiri.
This was at the official opening of this year’s annual Uganda International Trade Fair organised by the Uganda Manufacturers Association (UMA).
The President said Burundi has vast investment opportunities in sectors like tourism, hotels, agri-business, information technology, transport, energy, banking, manufacturing and consultancy.
Nkurunziza reasoned that since Uganda through President Yoweri Museveni played a significant role in the peace talks that restored democracy in Burundi, supporting the country’s investments would exploit the benefits of the hard-earned victory.
The UMA chairman Kaddu Kiberu said the body was undertaking a strategy of looking for available investment opportunities outside Uganda, as well as attracting more investors into the country in order to increase the foreign direct investments inflows into the region.
The East Africa Community and the UN Conference on Trade and Development figures show that foreign direct investment inflows to the region jumped to $1.7b in 2008, up from $692m in 2002.
The trade bloc, statistics added, had a population of about 126 million people and a gross domestic product of $60b in 2008.
BURUNDIAN government has reassured investors that security is the country’s number one priority as it seeks to tap into the foreign direct investment opportunities provided by the East African market.
Burundian President Pierre Nkurunziza explained that though the country was still nursing wounds of the political instability it suffered for at least a decade, the current level of democracy and security can enable investments to flourish.
He said the country was also directing efforts towards ensuring zero tolerance for corruption, as a tool to enhance investor confidence.
“Burundi desperately needs more foreign investors.
“Though we have considered security as the baseline in enabling a conducive investment climate, we have other incentives in place that will make your investments profitable,†Nkurunziza explained in a speech read by his second Vice-President Gervaise Rufyikiri.
This was at the official opening of this year’s annual Uganda International Trade Fair organised by the Uganda Manufacturers Association (UMA).
The President said Burundi has vast investment opportunities in sectors like tourism, hotels, agri-business, information technology, transport, energy, banking, manufacturing and consultancy.
Nkurunziza reasoned that since Uganda through President Yoweri Museveni played a significant role in the peace talks that restored democracy in Burundi, supporting the country’s investments would exploit the benefits of the hard-earned victory.
The UMA chairman Kaddu Kiberu said the body was undertaking a strategy of looking for available investment opportunities outside Uganda, as well as attracting more investors into the country in order to increase the foreign direct investments inflows into the region.
The East Africa Community and the UN Conference on Trade and Development figures show that foreign direct investment inflows to the region jumped to $1.7b in 2008, up from $692m in 2002.
The trade bloc, statistics added, had a population of about 126 million people and a gross domestic product of $60b in 2008.