China ranks 3rd in investments in Uganda in Q3
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China has emerged third among the top foreign direct investors in Uganda in the July-September quarter, a report issued by Uganda Investment Authority (UIA) said on Tuesday.
According to the report ranking country sources of investment, the Netherlands ranked first with two planned projects worth over 60 million U.S. dollars, creating 139 jobs.
India ranked second with 16 planned projects worth 41.5 million dollars and China came third with 10 planned projects worth 14.7 million dollars, creating 769 jobs.
Patrick Bitature, the chairman of UIA, told reporters here while releasing the report that Uganda stands to attract more Chinese and other investors around the world following the high visits to the Uganda stand at the ongoing Shanghai Expo in China.
"Never before have we had an exhibition where Uganda has had so much attention. We hope to attract not only the Chinese because this Expo attracted investors and tourists from all over the globe, " he said.
According to UIA, Chinese investment in Uganda is on an increasing trend.
In the 2009/2010 financial year, which ended on June 30, 2010, China ranked as the top foreign direct investor in Uganda with planned investments worth 245 million dollars, creating 5,568 jobs.
In the 2008/2009 financial year, China was the second biggest investor in the East African country.
In the July-September quarter for this year, the UIA licensed 93 planned projects worth about 340 million dollars and creating 15,307 jobs.
Ugandan investments continued to be the leading source of investment for the quarter with 40 planned projects worth 178.1 million dollars and creating 11,338 jobs.
