Uganda has led the East African region in foreign direct investment for the third year, reports The New Vision.

The World Investment Report 2009, released by the United Nations Conference on Trade and Development last week, showed Foreign Direct Investment in Uganda totalled $787 million in 2008, up from $733 million in 2007. Second in the region was Tanzania, with $744 million in 2008, while Rwanda saw a dramatic increase in investment to place third with $103 million.

Africa attracted a total of $88 billion in 2008, with oil and mineral exploration seeing most of the investment.