Five leaders from the East African Community member countries who are attending an investment forum in Kigali, Rwanda, have vowed to improve infrastructure and energy sectors in the block so as to attract new business in the region.

Presidents Jakaya Kikwete of Tanzania, Mwai Kibaki of Kenya , Yoweri Museveni of Uganda, Pierre Nkurunziza of Burundi and their host Paul Kagame of Rwanda were all present on the first day of the meeting to give it the importance it deserves.

The business promotion meeting is the first ever to be held in Rwanda by the East African leaders and it seeks to showcase investment opportunities available and eventually attract to the region, an estimated 800 investors from the region and beyond.

The most important agenda of the meeting that runs for two days is setting strategies for enhancing cross-border trade, which, however, is hampered by unnecessary delays in transportation of goods, energy shortages and uncalled for bureaucracy that potential investors have to face.

The sub-region, which has a combined population of 130 million, launched the East African Customs Union in 2005 and is currently negotiating the terms of a common market and monetary union. Rwanda and Burundi joined who joined the block in July 2007, are yet to join the customs union.

Speaking at the firs day of the conference President Mwai Kibaki of said that intra-EAC trade had grown to 2.2 billion USD in 2006 from 1.3 billion USD in 2003 after the bloc set up a customs union.

“Investors need have no fear of coming to Kenya since the coalition government has restored peace,” he told the delegates.

"I assure investors and other visitors that Kenya is safe, and your investments are secure," he said, adding that members of the East African Community are continually improving the policy and business environment to attract investors.

But potential investors have more worries that just poor infrastructure and unreliable energy and bureaucracy. "Corruption makes business expensive. What one thought could get for free has to be bought because a corrupt official makes you pay for it," said Reginald Mengi, a business man from Tanzania and Chairman of the East African Business Council.

The EAC countries plan to hold referenda by September 2009 on adopting a common currency and formally creating a political federation with one president and different organs of government by January 2010.