East Africa offers many investment opportunities
The East African Community and the Lake Victoria Basin Commission have organized the first-ever EAC Lake Victoria Basin Investment Forum, planned December 1st-5th 2010.
The investment forum will take place in Mwanza, Tanzania under the theme “Realizing Economic Benefits in the EAC Common Market through the Lake Victoria Basin”. According to a statement from the EAC secretariat, the conference is expected to bring together 1000 business and government leaders from the region and internationally.
The Forum which is expected to bring together investors and potential investors from within and outside the region, aims to showcase the investment opportunities that abound in the Lake Victoria Basin.
The statement was issued jointly by Owora Richard Othieno, Ag. Head of Department; Corporate Communications and Public Affairs of the EAC and Charles-Martin Jjuuko, the Communications & Development Awareness Officer, Lake Victoria Basin Commission
As part of the Forum preparatory process, a planning meeting is due to be held in Arusha Friday 3 September, with high level representation from the East African Community organs and institutions, EAC Partner States and business leaders in the region.
The organizers are looking to interest players in Transport and Communication, Tourism, Agri-business and Fisheries, Trade and Industry, and Research and Development in the forum meeting.
The Forum is also expected to provide a stage for the investors to reflect and realign themselves to the already operational East African Community Common Market Protocol.
The Lake Victoria Basin is estimated to cover over 194,000 square kilometres and boasts of a market potential of over 40 million people, with an estimated annual GDP of USD 40 billion and a wealth of resources of economic importance, while the overall EAC has a population of 120milliion and a GDP of USD 70 billion.
The event organizers are the EAC Secretariat, the Lake Victoria Basic Commission, the host Partner State (United Republic of Tanzania), national Investment Promotion Agencies and the Tourism Promotion Authorities of the Partner States, and the East African business community.
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