East Africa to showcase investment opportunities to the world

The meeting is expected to set the foundations for crucial joint ventures and partnerships between local and international businesses in East Africa according to Aston Kajara, Uganda's State Minister for Investment.

The minister said the conference is going to be the perfect opportunity for business engagement and networking, and will be overseen by the five heads of state of the EAC.

“As we showcase the opportunities that the EAC offers, we shall discuss the possibilities in joint partnerships and direct investments in the region,” Kajara said at a press conference in Kampala.

International participants will be encouraged to engage in key issues such as commercialising agriculture, renewable energy, and investing in extractive industries and ICT in East Africa.

Delegates at the conference are expected to discuss the major factors that impact on the business environment, such as the expansion in infrastructure development, investment incentives, and new systems of efficiency in trade.

On average, investment in the region is hindered by insufficient and erratic energy supply, poor and slow transport systems, high cost of finance and corruption. But investors foresee opportunities in the EAC Common Market which comes into force on 1 July 2010.