President Yoweri Museveni has assured investors that Uganda has no investment conditionality for one to do business in the country.
“For long, we have sensitised our people that once an investment is brought in the country it becomes part of the national GDP because the country benefits from its inputs and outputs through taxes, jobs, electricity and water transportation, among others,” Museveni said on Wednesday.
The President was meeting a group of United Kingdom investors who have indicated interest in investing various sectors of the Ugandan economy.
The British Secretary of State for International Trade, Liam Fox, led the delegation that was hosted by Museveni at State House, Entebbe. The British High Commissioner to Uganda Peter West accompanied the delegation.
According to a release from State House, Museveni said that the overriding factor to a prosperous economic life in any developing country is to have education, good health, and easy means of transport, job opportunities, political freedom, democracy and free press among others.
“For this to happen, there is need to realise some stimuli where market forces are sustainably supported by increasing human resource, peace, ideology of interests rather than identity, infrastructure and establishment of industrial sector for value addition to products,” he observed.
Museveni also assured the UK investors that the development bottlenecks that Uganda used to experience and which interfered with the private sector have been addressed.
Fox stressed the need to maintain economic strategic relationship between Uganda and the United Kingdom. He also commended Museveni for the government efforts to tackle corruption,
“The corruption vice constrains the national economy because it involves misallocation of resources,” said Fox.