Uganda Investment Authority News
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Uganda licensed 62 investment projects worth $806.6 million in the first quarter, amid growing interest in the East African nation’s oil industry, Uganda Investment Authority Chairman Patrick Bitature said.
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Uganda plans in July to start building a $350 million Chinese-funded toll road linking Entebbe International Airport and the capital, Kampala, to reduce congestion, the Uganda National Roads Authority said.
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Hong Kong has surpassed Japan for the first time as Asia’s most-lucrative market for stock lenders, boosted by investor demand for Chinese securities to be used in short sales.
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The Uganda Investment Authority approved investment projects worth $1.7 billion last year, up from $1.6 billion the year before, said Ephraim Kamuntu, minister of state for finance.
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Uganda’s foreign direct investment may rise 20 percent in 2011 on higher inflows into the petroleum, mining and agricultural industries, the Uganda Investment Authority said.
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Uganda licensed investment projects worth $122 million last month, said Maggie Kigozi, the executive director of the Uganda Investment Authority.
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Uganda’s approved investment projects more than tripled in February, driven by the finance and manufacturing industries, said Maggie Kigozi, executive director of the Uganda Investment Authority.
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Foreign direct investment in Uganda , set to become an oil producer in 2011, may grow 8.9 percent this year amid increased investment in the country’s energy and mining industries, the Uganda Investment Authority said.
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Uganda is set to approve Tullow Oil Plc’s sale of oil field assets to Cnooc Ltd. and Total SA, said Patrick Bitature, the chairman of the Uganda Investment Authority.
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The value of investment projects Uganda approved fell 67 percent to $111.8 million in the three months through September from a year ago due to the global economic slowdown, the country’s investment authority said.
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