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
Farmers trained in silage production
Some 28 agriculture officials and famers have been trained in silage production for pigs....
Doctor Kakooza makes fortune from oranges
Doctor Twaha Kakooza the proprietor of Shatwa Mixed Farm in Bubajjwe village, Kayunga district sold his two dairy cows to start an orange farm....
Real estate market showing signs of recovery
Uganda’s property market continues to show signs of recovery in the retail and office sectors, amid concerns over high interest rates....
Oil prices retreat as dealers eye US data
Oil prices edged lower in cautious Asian trade Friday as investors await the release of a US jobs report for August that could determine the Federal Reserve's timetable for hiking interest rates....
Kasese farmers get modern storage facilities
The World Food Programme (WFP) has handed over three maize storage facilities to three farmers’ cooperatives of Kyabarungira and Kitswamba sub-counties in Kasese district....
EAC’s Sezibera to visit Namanve
The secretary-general of the East African Community is set to visit Namanve Industrial Park on Thursday....
Are poor parliamentary debates a result of removal of school debates?
Yes
No
Can't Say
follow us
subscribe to our news letter