China tops list of investors in Uganda in Q3 of 2019/20 financial year

Source: Xinhua| 2020-05-13 10:52:07|Editor: huaxia

KAMPALA, May 12 (Xinhua) -- China topped the list of countries that planned to invest in Uganda in the third quarter of the 2019/20 financial year that ends in June, a new report issued on Tuesday showed.

Uganda Investment Authority (UIA), a state agency charged with investment promotion, said in its report that licensing of projects from January-March showed that China registered planned investment of 164 million U.S. dollars, which accounted for 54 percent of the total investment in the east African country.

The report showed that the construction sector registered the highest amount of planned investments in quarter three with 144.4 million dollars, which accounted for 47.7 percent of all the planned investments.

"This was largely on account of a Chinese investment project worth 138.33 million," said the report.

Chinese sourced projects registered the highest level of planned employment with a total of 3,782 jobs, which accounted for 50 percent of all the planned employment. Enditem