By Kitts D.Mabonga
KAMPALA
The country is reaping high value investment and potential economic benefits courtesy of the just concluded NAM and G77+China summits
The state minister for investment Evelyn Anite told the East African Gazette in an exclusive interview at her office last week where she congratulated President Yoweri Museveni for successfully hosting the Trade and Investment summit at the sidelines of the just concluded 19th NAM/G77 and China summit.
“I’m registering my official salutations to the president for having successfully hosted the exclusive high profile Trade and Investment Summit at the sidelines of the main 19th NAM/G77 and China Summit saying several high profile deals were struck which would bring new investment opportunities into the country” she said.
Among some of the high value projects cleared by the president includes the proposed long term Housing satellite city at Lubowa in Wakiso district which shall be undertaken by Qatar set to occupy 30 acres of land.
“I would like to inform the country that the president has already blessed a high value proposed satellite city housing complex to be constructed at Lubowa along Entebbe road by our investment friends from Qator which project shall cover or occupy 30 acres of land” she said.
She further revealed that they are soliciting for a two square miles prime piece of land on which to construct a high cost products exports processing zone facility being undertaken by Egypt .
‘Again as our campaign continues to solicit for more investors to come to Uganda, we have separately secured a delegation of potential investors from Egypt whose interest is to construct a high value exports processing Zone facility in the country’ observed Anite adding that they are currently scouting around for a 2 square miles piece of land for this project.
These projects observed that the minister shall effectively bring in revenue in form of taxes, creating more job opportunities for citizens within the project site territory thus fostering economic development of the country.
She congratulated the private sector players who might have tapped into the just concluded high level conferences such as hotels for accommodation, tourism sector actors, the farming community which effectively supplied all traditional foods and beverages among other services.
‘We are sure that dozens of hotel owners managed to bag some incomes courtesy of providing descent accommodation to the over 3,000 international delegates as well as the tourism sector players who include drivers, tour guides, language interpreters, upcountry safari lodges, food and beverages manufacturers and the entertainment industry among so many actors’ noted Anite.
The minister lambasted those critics who reportedly blamed the information minister Dr. Chris Baryomunsi remarks about urging the citizens along the pathway to and from Munyonyo the conference venue to smile all the time whenever guests bypassed them.
‘I find it ridiculous for some critics of Dr. Baryomunsi about his recent remarks urging the citizens along the pathway to Munyonyo to always put up a broad jolly smile whenever guests passed by because to smile was a pure African culture depicting its people’s clean jaws bringing out a good impression as hospitable people’ she pointed out.
She issued a strong caution to all people about the collective need for each one to jealously protect the just planted greenery grass and trees as well as avoiding vandalism of the newly installed lighting systems as it was for the continuous beautification of the city.
Anite pointed out that despite several shocks that have stretched global economic flows, including the Covid-19 pandemic, the war in Ukraine, floods caused by environmental constraints, Uganda has managed to navigate through these economic headwinds.
The steady leadership of the President has kept the economy resilient with low inflation rate and increasing investment flows in the areas of agricultural value addition, manufacturing, ICT, Oil and Gas, tourism and services.
The Government has undertaken significant reforms to streamline processes, reduce bureaucratic hurdles and improve the general environment. Our goal is to make it easier for investors to set up and operate businesses in Uganda.
Uganda Investment Authority’s One Stop Center is a testament to this commitment.
It serves as a single point of contact for all investment-related approvals, cutting through red tape and ensuring a swift and efficient set process for investors.
It is designed to facilitate a seamless experience for investors, providing a range of services under one roof.
Whether it’s company registration, tax permits, environmental impact assessments, or work permits, our dedicated team at the One Stop Center is here to assist you at every step to set up in Uganda.
This approach not only saves valuable time but also reduces the cost of doing business, making Uganda an attractive destination for your investments.
In order to assist investors, Uganda has also made several strides to improve the general business environment, these include; streamlined tax procedures, improved infrastructure, specifically electricity and development of human resources. Our commitment to good governance, transparency, and the rule of law ensures a stable and predictable business environment.
Furthermore, Uganda’s strategic location at the crossroads of East and Central Africa presents it as a gateway to a market of over 500 million people.
As a member of the African Continental Free Trade Area, Uganda will benefit from the growing middle class and increased consumer demand. These factors offer several opportunities for profitable investment.
She extended a warm invitation to all investors to explore the vast potential that Uganda offers.
The government, alongside the Uganda Investment Authority, is committed to providing the necessary support and creating an enabling environment for your businesses to thrive. Together, let us embark on a journey of shared prosperity, mutual growth, and a brighter future for Uganda.
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