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Uganda : UIA - Actual investments to UGANDA rises to $46.8M

August 18, 2014

The Uganda Investment Authority (UIA) has announced that that actual investments to the country in Q4-2014 rose by 8% to $46.8 million compared to $43m registered in Q3.

The UIA's status report shows that a boost in the finance, insurance, real estate and business services that recorded a $17 million investment, the agriculture industry that had a capital expenditure of $10 million and manufacturing that registered $9.1m capital led to the rise in investments overshooting the previous quarter.

The UIA Executive Director, Frank Sebbowa, said : "India remained the largest source of FDI projects accounting for 20% of the projects a planned value of investment amounting to $12.5 million in the fourth quarter. For the first time in 2013/14, Kenya rebounded emerging as the leading planned FDI source by value registering planned investment value of $46 million."

He added : "It should be noted that the fourth quarter experienced an improvement in the investment conversion rate which grew to 15% compared with the 5% realization rate registered in the previous 3rdquarter. The positive performance resulted from continued improvement in the macroeconomic environment. It should be noted that there was improvement in actual investment in spite of an 11% decline in the number of licensed projects in the third quarter to 113 projects in the fourth quarter."

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Source: TendersInfo (India)

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