Corruption will not be stumped by government alone but with the combined efforts from the investors, according to Prime Minister Dr. Ruhakana Rugunda. He said government had taken note about the serious effects corruption bears on investors adding that the vice had reduced investor confidence and competitiveness in the world market.
The premier made the remarks during the Investor of the Year 2016 Award ceremony organized under the theme ‘Local Content: A driver for Sustainable Investment Growth’. The function took place at Hotel Africana in Kampala.
He noted that Uganda has massive opportunities for investment due to the availability of improved infrastructure especially transport networks and other social facilities that create a favorable environment for investment.
Rugunda said that for Uganda to achieve the middle income status, the country must attract serious investments. ‘The success or failure of NRM government will depend on whether we are creating jobs or not’, the Premier noted. He urged investors to join the Presidential Investors Round Table(PIRT) forum to engage with government on their undertakings, challenges and opportunities faced.
The Minister of Finance, Planning and Economic Development, Matia Kasaija said government will continue providing a conducive investment climate to facilitate the private sector contribution to national development.
He highlighted government’s efforts towards addressing bottlenecks that hinder business growth in the country including ensuring security, macroeconomic stability and infrastructure development in the country. Kasaija urged the investors to work towards establishing industries stressing that Uganda cannot continue being a supermarket for other people’s products.
The Minister of State for Privatization and Investment, Evelyn Anite said government had established a toll free hotline to help investors get information they need to undertake investments in the country. ‘Your Investment is Important to Uganda because we look at you as the people to drive us to the middle income status’, Anite said.
The Executive Director of Uganda Investment Authority, Jolly Kamuhangire, said the Authority aims at serving both local and foreign investors diligently. In abide to fight corruption, Kamuhangire said Uganda Investment Authority had employed electronic services to minimize physical interactions which entice bribes. She also noted that Uganda Investment Authority intends to use the platform exhaustively to engage and interact with investors by providing information about the investment policies in Uganda.
She said that the criteria used to select the award winners was based on areas such as projects with multiplier effects, employment opportunities and levels of innovativeness among others.
Graphics Systems Uganda was the overall winner, while BMK House came second. ENDS.
BY DOREEN NASASIRA