Investment Authority targets $2b in ventures
Feb 20, 2007
THE Uganda Investment Authority (UIA) is targeting $2.2b (about sh3.85 trillion) worth of investments this year, Dr. Maggie Kigozi, the executive director, has revealed.
By Joel Ogwang
THE Uganda Investment Authority (UIA) is targeting $2.2b (about sh3.85 trillion) worth of investments this year, Dr. Maggie Kigozi, the executive director, has revealed.
She said this would be an increase from last year’s $1.677b.
“CHOGM (Commonwealth Heads of Government Meeting) is a major boost to local investment especially in the hospitality sector,†she said.
Kigozi underlined UIA major achievement in 2006 as licensing 424 investment projects.
“But some of them have not taken off,†she revealed.
Kigozi identified China, the Great Lakes region (especially Sudan), Japan and the UK as the main investment targets.
Kigozi was speaking at the Makerere University strategic planning retreat at the Colline Hotel in Mukono last week.
She said at 45%, foreign projects dominate investments, followed by local and joint ventures at 34% and 21%, respectively.
The investments chief decried the impractical nature of Uganda’s education system.
“Even engineers here want to wear jackets.
“They also do not want to have dirty hands,†she asserted.
To fight rampant unemployment, Kigozi disclosed that the Government would support the private sector to create more jobs.
THE Uganda Investment Authority (UIA) is targeting $2.2b (about sh3.85 trillion) worth of investments this year, Dr. Maggie Kigozi, the executive director, has revealed.
She said this would be an increase from last year’s $1.677b.
“CHOGM (Commonwealth Heads of Government Meeting) is a major boost to local investment especially in the hospitality sector,†she said.
Kigozi underlined UIA major achievement in 2006 as licensing 424 investment projects.
“But some of them have not taken off,†she revealed.
Kigozi identified China, the Great Lakes region (especially Sudan), Japan and the UK as the main investment targets.
Kigozi was speaking at the Makerere University strategic planning retreat at the Colline Hotel in Mukono last week.
She said at 45%, foreign projects dominate investments, followed by local and joint ventures at 34% and 21%, respectively.
The investments chief decried the impractical nature of Uganda’s education system.
“Even engineers here want to wear jackets.
“They also do not want to have dirty hands,†she asserted.
To fight rampant unemployment, Kigozi disclosed that the Government would support the private sector to create more jobs.