Museveni assures investors on Uganda
Jan 20, 2009
PRESIDENT Yoweri Museveni has called upon foreign investors in the country to woo other investors, saying Uganda is a good destination for investment and re-investment.
By David Muwanga
PRESIDENT Yoweri Museveni has called upon foreign investors in the country to woo other investors, saying Uganda is a good destination for investment and re-investment.
“We want more investors because trade and investment are the most viable mechanisms for ensuring sustainable development in the East African region,†he said in a speech read by the finance minister Dr. Ezra Suruma.
This was at the Uganda Investment Authority (UIA) investor-of-the-year awards ceremony held on the theme “Corporate Social Responsibility†at Hotel Africana in Kampala on Friday.
Museveni said the Government would guarantee a conducive investment environment to make it possible to have projects reach commercial production level.
He added that the Government instituted the Presidential Investor Round -table to listen to investors’ views to help it improve the country’s business climate.
He observed that foreign direct investment (FDI) was the most important channel for cross-border business activity.
“Every host government knows that FDI has a positive impact on their economies due to the additional financial, technological and managerial resources associated with it,†the president said.
“Investment can be the engine for kick-starting and sustaining development and providing a capital platform, which we could not otherwise create from our domestic savings base.â€
“Our levels of research and development have not been sufficient to meet our technology needs hence attracting and retaining investment is vital to the economic growth and development of the country.â€
He said the EAC member state were also implementing the protocol for the establishment of the customs union, which incorporates the common external tariff, internal tariff elimination, the principle of asymmetry and rules of origin at the regional level.
He said similar strides were being undertaken at the COMESA where a number of states have adopted an investment framework agreement that gives investors the ability to freely move capital and labour across the region.
PRESIDENT Yoweri Museveni has called upon foreign investors in the country to woo other investors, saying Uganda is a good destination for investment and re-investment.
“We want more investors because trade and investment are the most viable mechanisms for ensuring sustainable development in the East African region,†he said in a speech read by the finance minister Dr. Ezra Suruma.
This was at the Uganda Investment Authority (UIA) investor-of-the-year awards ceremony held on the theme “Corporate Social Responsibility†at Hotel Africana in Kampala on Friday.
Museveni said the Government would guarantee a conducive investment environment to make it possible to have projects reach commercial production level.
He added that the Government instituted the Presidential Investor Round -table to listen to investors’ views to help it improve the country’s business climate.
He observed that foreign direct investment (FDI) was the most important channel for cross-border business activity.
“Every host government knows that FDI has a positive impact on their economies due to the additional financial, technological and managerial resources associated with it,†the president said.
“Investment can be the engine for kick-starting and sustaining development and providing a capital platform, which we could not otherwise create from our domestic savings base.â€
“Our levels of research and development have not been sufficient to meet our technology needs hence attracting and retaining investment is vital to the economic growth and development of the country.â€
He said the EAC member state were also implementing the protocol for the establishment of the customs union, which incorporates the common external tariff, internal tariff elimination, the principle of asymmetry and rules of origin at the regional level.
He said similar strides were being undertaken at the COMESA where a number of states have adopted an investment framework agreement that gives investors the ability to freely move capital and labour across the region.