The rise in FDI is said to be linked to the recent off-shore gas discoveries according to the UN Conference on Trade Development (UNACTAD) World Investment Report 2013.
The report puts Uganda at the top of all the EAC countries in attracting FDI worth $1.72 billion jumping by 92% from $892 million it recorded in 2011
In 2012, Kenya’s FDI dropped by 27.04% to $259 million and placed the country in third compared to $355 million it recorded in 2011.
The report said that Rwanda rose by 50.94% to $160 million last year up from $106 million it recorded in 2011.
Burundi receveived $1 million in 2012 as compared to $3 million it recorded in 2011, a decrease of 66.67%.
The Tanzania Investment Centre (TIC) Public Relations Manager, Pendo Gondwe said last week ahead of the report launch that Britain is still the leading foreign investor in Tanzania. UK projects worth $5.1billion now account for 35% of all investments in the country.
Ms Gondwe said China was ranked second with projects worth $2.1billion followed by India at the third place with investments worth $1.16 billion, while neighboring Kenya is ranked fourth investor with $1.5 billion worth of projects. The US came in fifth with 218 projects worth $998 million.
She said the leading sectors include tourism, real estate, transportation as well as agriculture and manufacturing with the local investors making up 469 projects.
TIC registered a total of 861 projects with a total value of $8.5 billion between July 2012 to June 2013. These have the prospect of creating about 93,334 jobs upon completion.
TIC Facilitation Manager, Revocatus Arbogast, said the surge in investment also comes with the streamlining the one-stop centre for investors.
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