VP woos Danish investors

May 18, 2015

Vice President Edward Kiwanuka Ssekandi has ended his week-long visit to Northern Europe with a meeting in the Danish Capital, Copenhagen, of Danish companies interested in investing in various sectors in Uganda

By Vision Reporter

Vice President Edward Kiwanuka Ssekandi has ended his week-long visit to Northern Europe with a meeting in the Danish Capital, Copenhagen, of Danish companies interested in investing in various sectors in Uganda.


Over 15 companies took part in a meeting that was held at the Uganda embassy in Copenhagen and the company executives expressed their willingness to invest in Uganda and urged Government to continue with such meetings which they said exposes the country’s exposure to the potential deals.

The Vice President asked companies that included those interested in energy, diary products, education, manufacturing and agribusiness that investing in Uganda was a sure way of return on every cent invested and assured them of Government support whenever they will find challenges.


Uganda's Ambasador to the Nordics Zaake Kibedi speaking during the Uganda Business Forum at the Ugandan embassy in Copenhagen attended by Danish enterpreuers interested in investing in various sectors in Uganda as VP Ssekandi (left) listens. PHOTO/VPPU
 

Ssekandi told the Danish entrepreneurs that Uganda has put in place a conducive investment environment and urged the Danish business people to take advantage of the several amenities that are being provided by the Government to enable investors start business in Uganda.

The Danes however complained about the sluggishness with which Uganda Government officials handle investment issues including assessment by Uganda Revenue Authority and urged government to establish a one stop centre where all the information can be assessed to quicken the process and reduce on delays that promote corruption.

They also sought assurance from Government of a credible legal regime in the event that there arise disputes or disagreements so that investors are not send away empty handed like is the case in some countries.

State Minister for Finance Fred Omach explained that Uganda was one of the countries in Africa with a reliable and independent judiciary system but also reminded the Danish group that even when they were deported by a different regime, Government had to return and compensate Asians for their properties.

He said that Government is honestly committed to investment in the country and assured the group that they will have the best business deals including tax holidays that they might not find anywhere on the globe relating to investment.

He also disclosed that the Danish Government is also working on a new facility that will support business entrepreneurships to promote trade and investment, saying Uganda might be among the few countries to benefit from the fund.

He also asked them to consider Uganda the top investment destination on the continent where they will focus their investment besides their Government continued support to Uganda in areas law and order, Water, Education and research.

The meeting was attended by Uganda’s Ambassador to the Nordics Zaake Kibedi, the Executive Director Ugdand Industrial Reaseach Institute, Prof. Charles Kwesiga, and George Piwang Jalopo of Uganda Investment Authority.














 

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