Maggie Kigozi Executive Director Uganda Investment Authority
Uganda Investment Authority
Friday, 07 January 2011
Uganda Investment Authority reports an improvement in local investment in 2010, representing 59% of the total investments. According to the 2010 annual investment report released Thursday, out of the 323 projects licensed, 143 of them are owned by Ugandans.
India with 47 investments and China at 33 remain top in foreign investments in Uganda. But in 2010, Ugandan investments picked up, discharging claims that the Uganda Investment Authority gives preferential treatment to external companies.
This is said to have been a direct response to the increasing markets within the East African Common Market, and other regional markets.
The manufacturing sector recorded the highest projects last year. This year the government is projecting the highest foreign direct investment ever recorded which will be largely driven by the rising interest in the mining sector.
In the second quarter of the 2009/ 2010 financial year, the authority recorded a slight 7% increase in planned investments, licensing 63 projects mostly in the manufacturing sector.