Investments established in Uganda by Rwandans last month alone hit over US$9m, Uganda Investment Authority (UIA) has announced.
According to statistics availed to The New Times yesterday, Uganda in April registered investments worth $9, 650,000m from Rwanda in the financial and real estate services sector.
It is envisaged that the investments registered from Rwanda last month will create 35 jobs.
“We have seen tremendous increment in investments from Rwanda and other EAC partner states ever since the Common Market Protocol came into force last year,” Dr. Maggie Kigozi, the UIA Executive Director said yesterday during a meeting on EAC regional integration in Kampala.
Kenya, another EAC member, registered investments worth US$1 million, creating 18 jobs.
Other countries that registered projects during this period included India, United Kingdom, Netherlands, Kenya, Pakistan and Canada.
Kigozi added that the biggest challenge to promotion of cross-border investments in the region is still poor infrastructure and the need for enough electricity.
Richard Sewakiryanga, the Executive Director of Uganda’s Non Governmental Organizations Forum, called on partner states to stop looking after their own national concerns, but start focusing on East Africa as a bloc if integration is to take course.