Govt asked to issue permanent visas to investors

BUSINESS   INVESTMENTS

The government has been asked to consider issuing permanent visas to foreign investors working and living in Uganda. 

Currently, investors and business people operating in Uganda, are entitled to class D work permit, which they say should be upgraded to permit visas or work permit. 

According to Haji Abbey Walusimbi, the Presidential advisor on diaspora issues and chairperson NRM diaspora league, investors offer a lot to Uganda and should be given permanent visas status. 

"It is unfair for a person investing more than $100,000 (sh366.7m) and employing 50 Ugandans to survive on a class D visa. These people are not just investing for their own gain, but helping better lives of our people," Walusimbi said. 

He said to woo more investors in the country, investors must be accorded permanent visas not to worry about their stay in Uganda, where they have invested billions of monies. 

Walusimbi made the remarks, during a tour of investments by South African national Sam Huime, who has invested up to $2.5m (over sh9bn) in Uganda's sports industry. 

Huime has invested $2.5m in an indoor sports centre which houses nine sporting activities including a dance studio, netball court, Volleyball court and hockey among others.  

The facility which is found in the industrial area in Kampala, also hosts a gym, steam bath, a spinning studio, hair salon, Juice bar/coffee shop, restaurant and a bar. 

"I lost close to $60,000 (sh220m) to impersonating brokers and am spending more than $20,000 (sh73m) on visa, work permits and accommodation and now am facing COVID-19 related challenges," said Huime. 

On his part, Walusimbi pledged to engage the Ministry of Foreign Affairs, the Uganda Investment Authority (UIA) and the Uganda Revenue Authority (URA) for a favourable investment climate.