Posted by: africanpressorganization | 1 November 2011

Regional legislators call for guidelines on FDI / Move deemed necessary to spur economic development in the region


 

 

Regional legislators call for guidelines on FDI / Move deemed necessary to spur economic development in the region

 

ARUSHA, Tanzania, November 1, 2011/African Press Organization (APO)/ — In a bid to enhance the economic development and spur investments in the EAC, regional legislators are now calling for the development of regional policies and legal frameworks around Foreign Direct Investments (FDIs). In addition, recognizing that attaining food and nutritional security can be ensured through food production and household incomes, the parliamentarians are reiterating the need for speedy implementation of the EAC Food Security Action Plan among other far reaching recommendations.

The deliberations emanate from a one day Policy dialogue on FDIs on Agriculture in Eastern Africa held in Nairobi recently. The meeting organized by EALA and the Frederic Ebert Stiftung (FES) Kenya Chapter Office, was attended by Members of EALA’s Agriculture, Tourism, and Natural Resources Committee, representatives of National Parliaments from Ethiopia, United Republic of Tanzania and Kenya and senior government officials from the Ministries of Agriculture from the Republics of South Sudan, Kenya and Tanzania. Also in attendance were representatives of the civil society notably, CUTS International, SEATINI, Kenya Land Alliance, Kilimo Trust of East Africa and experts from the region in the agricultural sector.

A number of presentations and papers were made on the floor. It became apparent that despite the fact that FDI had become an economic reality in the EAC region, there was need to structure a policy and legal framework that would play a key role in guiding investments while lending crucial gains to improvement of rural livelihoods.

“Agriculture is central to the economies of Eastern Africa and is dependent on access to land and for this reason, strengthening of the national land and environmental policies and law is critical”, the dialogue was informed. It is thus vital to have necessary frameworks to spur FDI, which the dialogue learnt has the potential to create employment, generate capital inflows and facilitate technology transfer.

In a communiqué released at the end of the dialogue, participants undertook to seek for the establishment of the EAC Food Security Commission to promote issues of food security in the region. They further called for the review and setting up of minimum conditions for land lease contracts.

 

SOURCE 

East African Community (EAC)


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