Nov. 15 (Bloomberg) -- 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.
The Kampala-based Uganda Investment Authority said yesterday that 49 projects received licenses compared with 93 a year earlier. The value of the projects in the first quarter of the 2011-12 fiscal year was down from almost $211 million in the previous quarter, it said in a statement on its website.
The finance, insurance, real estate and business services industries received a combined $47.5 million in investment projects, while agriculture attracted $24 million, the authority said. Kenya and China were the leading foreign investors, it said.
--Editors: Karl Maier, Heather Langan
To contact the reporter on this story: Fred Ojambo in Kampala at email@example.com
To contact the editor responsible for this story: Antony Sguazzin at firstname.lastname@example.org