East Africa experts discuss role of foreign investments to boost local economies

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Antonio Pedro

The Eastern Africa region has enjoyed impressive growth, but has not been able to make a dent in the poverty levels or create enough jobs.

That's why experts from the region are meeting in Kinshasa, in the Democratic Republic of the Congo (DRC) to see to what extent their governments can depend on foreign investments to attain sustainable growth.

The Intergovernmental Committee of Experts (ICE), an organ of the UN Economic Commission for Africa (UNECA), meets every year to discuss the challenges facing the 14 Member states.

Antonio Pedro is the Director of the UNECA Office for Eastern Africa.

"The Intergovernmental Committee of Experts in Kinshasa this year is going to be on the topic of National Champions, Foreign Direct Investment (FDI) and Structural Transformation in Eastern Africa. Essentially, we will be interrogating the extent to which Foreign Direct Investment in the region has contributed to promote structural transformation of our economy."

The experts will also examine how much can be expected of domestic investors and how knowledge and technological skills can be transferred to local players.

Growth rates in the Eastern Africa region between 2008 and 2013 were on average 6.7 per cent.

Jocelyne Sambira, United Nations.

Duration: 1’20”

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