The Minister of State for Privatisation and Investment Hon Evelyn Anite has underscored the need for regular meetings between the management of Uganda Investment Authority (UIA) and investors so that they can understand the challenges they go through.
The Minister made the remarks on Thursday 18th August 2022, while addressing local and foreign investors during a one day sensitisation meeting at Jinja Resort Hotel in Jinja City.
Hon Anite said that the government is aware of some challenges the investors are facing but these can be well handled if there are regular engagements between the line Ministries and Departments whose duty is to ensure that such information is received and handled accordingly in time.
Minister Anite reminded the investors that her Ministry in collaboration with other Ministries charged with promotion of a conducive investment environment in the country have established a One stop Center at Uganda Investment Authority to ensure that the investors spend less time in registering their businesses, acquiring licences and paying taxes as need arises.
Minister Anite who was accompanied by the Chairman of the Board of Directors of Uganda Investment Authority Morrison Rwakakamba and the Director General Robert Mukiza asked the Investors to take advantage of post COVID-19 pandemic recovery loan fund which is at a low interest rate to boost their businesses.
Hon Evelyn Anite said that there is need for regular engagements between Investors and Uganda Investment Authority.
She was however, surprised that no investor has applied to get the COVID-19 pandemic recovery loan fund the government of Uganda put under the Uganda Development Bank to help the investors.
Speaking at the same event, the Chairman of Uganda Investment Authority Morrison Rwakakamba reiterated that regular engagements with investors will give them an opportunity to understand what they go through so that they are supported.
Jinja City Mayor Peter Kasolo asked Uganda Investment Authority to consider opening the up a One Stop Center in Jinja which despite the upheavals remains the Center of industrial revolution in Uganda.
Mayor Kasolo also asked Uganda Investment Authority to ensure Local Government Authorities in their planning because they are the ones who are approached for advice when the going gets tough.
Several Investors who attended the meeting however called on the government to improve on the road and railway infrastructure in order for them to transport their raw materials to factories and finished products to their customers at a low cost.
The Chairman of Uganda Investment Authority Morrison Rwakakamba speaking at the Meeting.
The investors also decried the continued electricity load-shedding which has greatly impacted negatively on their operations since most of their production machinery needs constant electricity to operate.
The Minister also directed the Uganda National Bureau of Standards to ensure that products being produced in Uganda meet the International and National standards.
She also asked the investors to always grace the Presidential Investors Roundtable Summit that takes place once annually so that they get opportunity to meet President Yoweri Kaguta Museveni and share their views with him.
She said that the government is in final stages of creating the 25 Industrial Parks across the country and the investors should work together with Uganda Investment Authority to make use of them.
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