Uganda has received the highest foreign investment in East Africa and is currently the fastest-growing country in the region, the United Nations survey has shown. The report by the United Nations Conference on Trade and Development (UNCTD) showed that Uganda’s FDI grew from $733million to $787 million between 2006 and 2008.
Tanzanian and Rwanda grew from $597million to $744million and $16million to $103million respectively. This was followed by Kenya in the fourth position with $96million up from $51million in 2006, whereas Burundi closed East Africa’s ranking with $1million.
Speaking at the launch of the report in Kampala last week, the Director of Uganda Investment Authority Dr. Maggie Kigozi said Kenya occupied a low ranking because of many domestic investors involved in entrepreneurial activities as opposed to Uganda.
“Kenya has strong domestic investors as opposed to any of the other East African Countries, but with or without foreign investors, their economy still boosts,” Dr. Kigozi said.