The New Hong-Kong in Africa
On the 12th of August 2008 Kagera Eco-Cities Limited (Uganda) and Paradise International Investment Limited (China) signed a Memorandum of Understanding at Kampala Serena Hotel, witnessed by several Ambassadors and Government dignitaries.
- Paradise International Investemnt Limited (PIIL) from China is investing $1.5 billion in the Lake Victoria Free Trade Zone (LVFTZ).
- LVFTZ is to cover two hundred (200) square miles.
- The cosntruction starts in December 2008.
- LVFTZ is the single largest Chinese private investment in East Africa.
- This Free Zone City, the New Hong-Kong in Africa, is planned to accommodate 500,000 persons.
- LVFTZ is located in the District of Rakai in Southern Uganda, bordering with Northern Tanzanian District of Bukoba.
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