Sources in Uganda’s Ministry of Trade and Industry have informed our reporters that delegations have Indian business persons have toured East African countries and have already expressed willingness to put more capital in Uganda among other EAC states.

Trade Minister Amelia Kyambadde says that Uganda is now an investor final destination because of the good investment climate and good political atmosphere in the country.

Kyambadde says that although there are many Indian companies in Uganda, others are still willing to put their capital in Uganda. She says that Indians are willing to bring their advanced technology in agriculture and manufacturing to Uganda.

By Walakira Nyanzi

The post Indian companies eye East Africa first appeared on Uganda Multimedia News & Information.

The report, Doing Business in the East African Community 2011, draws on data from the annual global Doing Business study and takes a detailed look at business regulations in Burundi, Kenya, Rwanda, Tanzania, and Uganda. The report states that East Africa could benefit from sharing good practices in business regulation as measured by Doing Business.

In the past five years all East African Community economies made it easier to do business. The average ranking for those countries is 117 out of 183 economies overall in Doing Business 2011. Kenya has some of the most business-friendly regulations for dealing with construction permits. Ugandan courts resolve insolvency relatively efficiently. And Rwanda is among the fastest places to start a business.

“If each East African country was to adopt the region’s best practice for each Doing Business indicator, East Africa would rank 18, bringing the community closer to the global top performers,” said Sabine Hertveldt, World Bank Senior Private Sector Development Specialist and co-author of the report.

The East African Community is the regional intergovernmental organization of the economies studied in this report. In recent years EAC economies have worked to harmonize EAC Customs Union legislation and common market protocols while establishing peer-to-peer networks such as the Network of Reformers, based on similar models in the Organization of Economic Cooperation and Development and the European Union. In July 2010, EAC countries officially entered into a common market.

“We are serious about our role in the creation of an environment which is attractive to increasing private sector activity within and across our borders. We can do this by further streamlining regulations affecting businesses and by ensuring that the business environment is reassuring to investors,” stated Enos Bukuku, EAC Deputy Secretary General in a speech delivered on behalf of the EAC Secretary General.

“Although the common market has opened several opportunities for businesses in the region, it still requires an investment climate that is properly suited to catalyzing additional trade and investment. The EAC Doing Business report serves as a platform for private sector and governments to work together to make doing business in the community easier,” said Agatha Nderitu, Executive Director, East African Business Council.

Doing Business in the East African Community 2011 was prepared as part of the EAC Investment Climate Program supported by the World Bank Group and PRO€INVEST, a partnership program developed and undertaken by the European Commission on behalf of the African, Caribbean and Pacific Group of states.

Between June 2009 and May 2010, as recorded by Doing Business 2011, East African countries implemented eight reforms making it easier to do business. That brought the region’s total since 2004 to 54. Of the eight reforms, three were carried out in Rwanda, two each in Kenya and Uganda, and one in Burundi.

The post Doing Business in East Africa Community 2011 report launched first appeared on Uganda Multimedia News & Information.

The programme Sustainable organisations for commercial development will link local chambers of commerce in five countries, and EU chambers of commerce.

East Africa offers many investment opportunities

The EU has sponsored a group of chamber of commerce experts from different EU countries to come to Uganda and other countries to offer knowledge and guidance on improving trade and business.

Jonathan Webber from the Birmingham Chamber of Commerce says local chambers of commerce can play a big role in attracting foreign investment through their partnerships with other chambers of commerce.

He says through their discussions with their Ugandan counterparts, they are looking at investing in agriculture and the oil sector.

Olive Kigongo, the P{resident of the Uganda Chamber of Commerce and Industry says the exchange visits will help them to learn from each other’s experience.

The programme is also targeting Chambers of Commerce in Burndi Kenya, Ethiopia and Mauritius to benefit from the new scheme

Ultimate Media

The post EU supports East Africa Chambers of Commerce exchanges first appeared on Uganda Multimedia News & Information.

The 9th annual Africa Investment Forum 2011 (AIF) being organised by the Commonwealth Business Council in collaboration with the Government of The United Republic of Tanzania and the East African Community (EAC) will be held in Dar es Salaam, Tanzania from 17 to 19 April, 2011.

incumbent President Jakaya Kikwete of Tanzania

The 2011 Africa Investment Forum themed Accelerating African investment, linking Tanzania, the East African Community, Africa and the world; will provide a platform to showcase new investment opportunities, enhance African trade and build new business partnerships. The focus will be on promoting linkages between African economic clusters as a means to attract new investment.

“We will be pleased to welcome investors with long term interest in Tanzania and the East African Community to attend the Forum.” said H.E Jakaya Mrisho Kikwete, President of The United Republic of Tanzania during a planning meeting with CBC’s CEO, Dr Mohan Kaul in Dar es Salaam on 21 January 2011.

“Tanzania is an excellent country to host this year’s AIF” said Dr Kaul. “At the heart of one of Africa’s most dynamic economic communities, the EAC, and with strong links to Southern Africa, Tanzania is a country with great prospects and perfectly placed to host the business leaders and investors that will gather for the event.”

This year’s Forum will be held alongside the Summit of the EAC Heads of State.  It will involve high level dialogue on investment with the EAC Heads of State. Amb. Juma V. Mwapachu, Secretary General of the East African Community said: “The EAC is delighted to be working with CBC on the Africa Investment Forum during the period when the EAC Summit will be meeting in Dar es Salaam.”

The second day of the Forum will include wider discussion of the investment climate in Africa, issues of enhancing regional integration and trade both in Africa and with the wider world. Alongside these areas there will be sessions on key sectors across Africa including, Natural Resources, Oil and Gas, Agriculture, Infrastructure and ICT.

Notes to Editors:

1. The Africa Investment Forum is organised by the Commonwealth Business Council in collaboration with the EAC Secretariat and the Tanzania Investment Centre. Please see details at www.cbcglobal.org

2. Press admission is free but participants are required to provide for their own travel, accommodation and expenses.

3. Commonwealth Business Council

The Commonwealth Business Council (CBC) was established in 1997 with a direct mandate from Heads of Commonwealth Governments to promote trade and investment amongst 54 member nations and increase economic linkages with non-member countries.
CBC’s goal is to achieve economic empowerment for shared global prosperity through the enhancement of private sector contribution to social and economic development.
For more information please visit www.cbcglobal.org

4. Tanzania Investment Centre
Tanzania Investment Centre (TIC) is the primary agency of Government to coordinate, encourage, promote and facilitate investment in Tanzania and to advise the Government on investment related matters. TIC is the focal point for investors. It is the first point of call for potential investors; it is a “one stop facilitative centre for all investors”.
For more information please visit www.tic.co.tz

For more information please contact:

Sean Leno, CBC; Tel:             +44 (0) 207 024 8209      ; Email: sean.leno@cbcglobal.org

Owora Richard Othieno, Head of Department; Corporate Communications and Public Affairs; Tel:            +255 784 835021      ; Email: othieno@eachq.org

The post Tanzania President Jakaya Kikwete to Host 9th Africa Investment Forum first appeared on Uganda Multimedia News & Information.