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Browsing: EAC bloc
The EAC bloc should urgently work to attract international investors and embark on joint regional investments in the vaccine manufacturing industry for quick economic recovery.
This is according to East African Business Council Chairman Nicholas Nesbitt who is calling for a coordinated approach on COVID-19 measures to spur EAC economic recovery and growth.
Nesbitt noted that joint EAC investment offers a larger pool of capital resources, expertise and market.
At the same time, EAC’s board has directed the EABC Secretariat to champion advocacy on the adoption of open skies and one network area to reduce the cost of doing business in the region.
The board said that open skies attract regional tourism and improve consolidation of EAC exports to overseas markets such as horticulture.
According to the board, open skies are also critical in supporting the resilience and recovery of tourism, hospitality and transport sectors, which were highly impacted by …