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Uganda: Citizens Invest $186m in First Quarter of This Year
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New Vision (Kampala)
8 May 2008
Posted to the web 9 May 2008
David Muwanga
Kampala
UGANDANS are leading investors in the first quarter of this year, with total project investments worth $186m.
The locals invested in 19 projects that are expected to create 2,075 jobs, Charles Omusana, the Uganda Investment Authority's (UIA) deputy IT director, said. UIA is headed by Dr. Maggie Kigozi.
The projects are in agriculture, hunting, forestry and fishing sectors.
A total of $12.5m will be invested in real estate, financing, insurance, tourism and business services.
Omusana said the community, social and personal services attracted projects worth $5.8m. They will create 381 jobs.
Transport, communication and storage sectors attracted projects worth $33m. These will employ 190 people.
Ugandans were followed by Kenyans who invested in eight projects worth $52m. The projects are expected to create 816 jobs.
Finland came third with one project valued at $50m.
This is estimated to employ 166.
Some 15 Chinese companies invested $28.8m.
This should create 1,546 jobs, according to estimates.
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India had 14 projects worth $13m for 632 jobs, while the United Arab Emirates brought in $10m to create 394 jobs.
Other investors include The Netherlands, Australia, Russia, Armenia, Ethiopia, South Africa, Canada, the UK, Bangladesh, Pakistan, Sudan, Switzerland, Nigeria, Denmark, Italy, Egypt, Belgium and DR Congo.
Top officials predicted a resounding year in terms of investments given the current trend.
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