The Prime Minister Dr. Ruhakana Rugunda has said government is committed to promoting investments in the country. He said government policy on investment is directly aimed at attracting investors in the country, noting that good investment climate promotes the country.

PM Rugunda chairs a meeting on fast tracking investments at the Office of the Prime Minister in Kampala on Friday (Photo by PMPU)

The Premier made the remarks while chairing a meeting on fast tracking investments in Uganda which took place at the office of the Prime Minister in Kampala on Friday.

The Premier said Uganda is fast becoming highly attractive investment destination for foreign direct investment. He however stressed that this can only be fully achieved if Ugandans especially those working in Government ministries, departments and agencies combine efforts to make investment attractive in the country.

“Uganda should be able to attract investors. We need to communicate where government is undertaking transformative progress in investments. Uganda Investment Authority should sensitize and publicize Uganda as the best investment destination,” Rugunda said.

He also urged Ugandans to create a favorable environment for the investors, adding that Uganda Investment Authority should fully embrace the One Stop Center mechanism to avoid inconveniencing the investors.

 “The investors in Uganda are our number one marketers to the world as they attract other investors to come and invest in the country. We therefore need a one stop center where the investors should be able to acquire all the necessary information on investment in order to avoid causing unnecessary delays,” the Premier said.

The Premier pledged government’s total support and commitment to Uganda Investment Authority and the Investors.

The meeting agreed on the need to deal with bottlenecks in the investment sector such as lack of information on investment policies, bureaucratic processes and limited sensitization on investment opportunities in the country.

The Executive Director of Uganda Investment Authority (UIA), Jolly Kaguhangire said Uganda Investment Authority is working towards improving the services rendered to investors in the country.

She said new policies such as creating a one stop center for the investors at UIA have already been implemented and the proposal to have a focal contact person in each Ministry, Department and Agency handling investors is also underway.

The Deputy Governor of Bank of Uganda, Dr. Louis Kasekende said there is need to support government policy on investment by all ministries, Departments and Agencies and also to ensure consistence in communicating policies.

He advised Uganda Investment Authority to handle challenges faced by investors in the country with urgency. He also explained some of the economic incentives government gives to investors during the meeting.

The Meeting was attended by the Minister of Agriculture, Animal Industries and Fisheries, Vincent Sempiija, the Minister of Kampala Capital City Authority and Metropolitan Affairs, Betty Olive Kamya and the Minister of State for Lands, Persis Namuganza among others.

ENDS

Monday, January 15, 2018

BY DOREEN NASASIRA