Saturday, November 8, 2008

Uganda: Licensed Investments Hit $2.2 Billion

David Muwanga, New Vision (Kampala) 6 November 2008

THE Uganda Investment Authority (UIA) has licensed 314 projects with a planned investment of $2.25b in the last one year, investment statistics for November 2007 to October 31, 2008, have shown.

Energy and the water sector had the highest value of investments followed by manufacturing with $722m and $697m respectively.

Meanwhile, the UIA is organising an investment summit for Ugandans in the Diaspora, which is aimed at attracting them to invest in their home country.

The summit, which will be held under theme: "Back to My Roots, Uganda, My Home2," will be attended by over 300 Ugandans.

Dr. Maggie Kigozi, the authority's executive director, said the summit would begin in Gulu on December 27 with a seminar.

"The main summit will take place on December 29 and 30 at Hotel Africana," Kigozi told a press conference at UIA's offices in Nakasero.

She said the summit would focus on the role Ugandans in the Diaspora should play mobilising the international business community to invest here.

Kigozi said the summit would focus on sectors like information and communication technology, especially business outsourcing, education, finance, value-addition in agriculture, health care, tourism and multi-media.

Other events at the summit would include exhibitions by Ugandans who stay here and those in the Diaspora.