Business
Govt to spend $100m to boost private enterprises, tourism industry
Publish Date: Feb 07, 2014
Govt to spend $100m to boost private enterprises, tourism industry
An aerial view of Speke Resort Munyonyo. FILE/PHOTO
  • mail
  • img
newvision

By Jeff Andrew Lule                                    

Government of Uganda with support from the World Bank has embarked on a five-year project to support private enterprises and government sectors to boast the country’s economic development.

The project which is to cost 100m $ (about sh248bn) will be implemented under the Competitive and Investment Climate Strategy (CICS) funded by the World Bank.

CICS National Coordinator, Dr. Peter Ngategize said the project is aimed at addressing issues that are geared towards improving the business environment in different sectors.

Speaking at the Business Regulations Feedback Portal workshop in Kampala, Ngategize said the project focuses on five components including; supporting the modernization of business licensing and registration to allow efficient operations in the private sector.

“We want a simpler and less costly process in licensing and registration of businesses. This will help to reduce the cost of business and create a friendlier environment to the business community,” he noted.

They intend to promote tourism through modernizing Hotel and Training Institute in Jinja.

Other components include a matching grant meant to support other enterprises like agriculture to promote value addition and improve the capacity to offer quality services to easily compete at the international market.

The CICS will act as a one stop center to provide information to investors.

 

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

  • mail
  • img
blog comments powered by Disqus
Also In This Section
Uganda to earn sh5.3 trillion from tourism
Earnings from tourism are expected to exceed $2 billion (about sh5.3 trillion) per annum in the next few years, according to projections from the recently launched tourism Master Plan....
Ministry probes officials for smuggling row
The ministry of local government is investigating its officials after a car belonging to the ministry was impounded with contraband polythene bags in Busia district....
Develop human-centred solutions, techies advised
Young techies have been advised to have users at the back of their minds, while developing solutions if they are to thrive in an increasingly dynamic Information Communication Technology world....
Justice Kiryabwire tips on work ethics
Geoffrey Kiryabwire, Justice of the Court of Appeal, has decried the poor corporate governance culture in Uganda....
Leaked oil contracts reveal large payout to State coffers
A report based on leaked Ugandan oil contracts shows that Government has got a better financial deal for the country’s oil but has failed to put in place crucial environmental and human rights safeguards....
Open discussion forums on procurement start
The Public Procurement and Disposal of Public Assets Authority (PPDA) has started holding open discussion forums, locally called barazas, to engage Ugandans on procurement issues in their localities....
Will police's move to increase the number of investigators help deal with fraud?
Yes
No
Can't Say
follow us
subscribe to our news letter