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"id": 44832,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/44832/?format=api",
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"type": "speech",
"speaker_name": "Dr. Oburu",
"speaker_title": "The Assistant Minister, Office of the Deputy Prime Minister and Ministry of Finance",
"speaker": {
"id": 194,
"legal_name": "Oburu Ngona Odinga",
"slug": "oburu-odinga"
},
"content": " Mr. Temporary Deputy Speaker, Sir, I beg to reply. (a) According to the World Investment Report, 2010, prepared by the United Nations, Foreign Direct Investment (FDI) inflows into the East African Community countries remained minimal in the 1980s and 1990s, with Kenya taking up the lionâs share. However, the 2000s witnessed increased FDI inflows to most countries. FDI inflows net more than tripled between 2000 and 2007. FDI inflows increased from US$93.5 million in 2000 to a peak of US$2,191.9 million in 2007 before dropping to US$1,779.2 million in 2008. In 2009, FDI flows grew by two per cent to US$1,712.9 million. Despite the growth in FDI inflows in the East African Region, Kenya has lagged behind Tanzania and Uganda save for 2007 when FDI inflows to Kenya increased to a peak of US$729.1 million following privatization of Telkom and Equity Bank participation by a foreign investor. This compares favourably with US$733 million and US$647 million to Uganda and Tanzania respectively. For the late entrants to the East African Community, Rwanda and Burundi, Kenya is still ahead, although Rwanda seems to be catching up quickly. The FDI trends notwithstanding, Kenya remains the number one investor in the East African Community."
}