Kadaga urges gov't to improve investment incentives
Jul 02, 2018
“I think we need to look into our incentives to attract business in order for us to compete with other economies."
PIC: Speaker Kadaga (second from left) attended the opening of the 2nd Uganda-Canada Diaspora Business Expo and Convention in Canada. (Courtesy photo)
INVESTMENT
The Speaker of Parliament Rebecca Kadaga has asked government to re-evaluate the investment policy to improve incentives for Ugandans in the diaspora to invest more in the country.
She said this during the opening of the 2nd Uganda-Canada Diaspora Business Expo and Convention organised by Ugandans living in Canada on Saturday.
"I think we need to look into our incentives to attract business in order for us to compete with other economies which have set up good investment packages that enable people invest in their economies," she said.
Kadaga cited countries such as Canada that give citizenship to people who have potential to invest in their economies.
"I have looked into our system for something that can attract people to invest at home and have not found it. We have concentrated more on tax holiday, which alone cannot encourage people, especially the locals in the diaspora, to invest home."
The Speaker said Ugandans in the diaspora have managed to individually come back to make investment, but government needs to come up with a system for them to make meaningful contribution towards development of their country.
She also cited Ethiopia, where the government has put up an investment vehicle for its people in the diaspora to invest home.
Potential to contribute to development
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While answering question about government involvement in the organisation of the diaspora activities of Ugandans, the Speaker said that the organisers of these events have to draw plans and give government enough time to plan.
John Nalima, the chairperson of the Uganda-Canada Convention, thanked Ugandans in Canada for the willingness to participate in the convention.
"As a chair of the Uganda-Canada business expo, I am proud to have the opportunity to contribute to the convention to reflect our vision of Ugandans in Canada and the diaspora as a whole," he said.