Monday, 25 October 2010

Lake Victoria forum to showcase EA potential

From East African Business Week, Kampala, Uganda
By Mark Muhumuza

The EAC will host the inaugural Lake Victoria Investment Forum in Mwanza Tanzania to present investment opportunities around the world’s second largest fresh water lake.

The forum to be held under the theme “Realizing Economic Benefits in the EAC Common Market through the Lake Victoria Basin” is another effort to attract investment in the Lake Victoria Basin.

The Lake Victoria basin is an investment hub within the East African Community for its market of an estimated 30million an estimated annual GDP of $40m covering an area of about 194,000 square kilometres.

“The focus of the Lake Victoria Investment Forum will be to highlight the investment opportunities around the basin to delegates from around the world,” says Tom Okurut the executive director East African Community Lake Victoria Basin Commission (LVBC).

The potential of the Lake Victoria Basin is vast especially in the area promoting trade within the East African Community.

Water transport is the cheapest mode of transport but with the EAC it is predominantly road and air transport. These forms of transport are much more expensive compared to rail and water transport.

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