East African countries have been advised to formulate a legislation through which Foreign Direct Investments (FDIs) into the region can be regulated and monitored.The legislation should make sure that a region doesn't receive FDIs from a country or investment hub where EAC has a direct market.
The moment FDI's are allowed from such areas, countries that are trading directly with EAC will benefit even more by taking advantage of the existing trade relations to abuse ways through which investments come into the country.
The call was made by the Chairperson and member of the Committee of Trade investments and Communication in the East African Legislative Assembly (EALA), Mukasa Mbidde. Read more. Source | New Vision