UIA: Local Ugandans lead in investments in the country

China and India are no longer the leading investors in Uganda, a report released by the Uganda Investment Authority (UIA) has revealed.

Rather, its local Ugandans and investors from the United Arab Emirates and Lebanon.

China and India which have been the top two investors in Uganda for the last five years are now  in the fourth and fifth position respectively.

In the first quarter of this financial year, domestic investors invested $82 million, Lebanese investors followed with $65 million while UAE investors sunk in $ 51 million.

UIA executives told The Nile Post that the changes in investment are healthy and reflect government's commitment to make sure the opportunities from various continents are explored.

Dr. Fred Muhumuza,  an economist at Makerere University said China and India are now taking up big projects elsewhere thus the drop in investments in Uganda

According to the report,  many investors still prefer concentrate in the central region  which accounts for 82% of the investments while Northern Uganda only accounts for 1.5% of the investments.

Critics said this is attributed to the good infrastructure in the central region.