The Head of the State House Investors Protection Unit (SHIPU), Col. Edith Nakalema has reassured investors of Uganda’s commitment to supporting and protecting their investments in the East African country.
“Collaborating with government Ministries, Departments and Agencies (MDAs) to maintain investor confidence levels in Uganda at an all-time high is the raison d’etre of SHIPU. This move was and still is the President’s reassurance to investors,”she said.
Col. Nakalema made the remarks today while meeting with the members of the Netherlands – Uganda Trade and Investment Platform (NUTIP) at SHIPU offices in Kampala.
NUTIP is a Ugandan association that harnesses the economic power of cooperation between Dutch and Ugandan entrepreneurs.
The meeting was attended by key MDAs including Ministry of Finance, Planning and Economic Development, Ministry of Trade, Industry and Cooperatives, Uganda Investment Authority, Uganda Revenue Authority, Uganda Registration Services Bureau (URSB), Kampala Capital City Authority (KCCA) and it aimed at reassuring NUTIP of the government’s commitment to supporting their investment decision and to address the areas of interest raised by the association.
Col. Nakalema informed the investors that by investing in Uganda, they chose the best investment destination.
“Uganda was consistently named Africa’s top investment destination by AIM UAE in both 2023 and 2024 and also won the investment catalyst award at the Go Global Awards in 2023 by the International Trade Council,” she said.
She further assured them that all their challenges will be addressed in order to create a more thriving investment climate in Uganda.
In the same meeting, Col. Nakalema also appreciated the relentless effort by the Embassy of the Kingdom of Netherlands in promoting modern agricultural practices through the “Best Farmers” annual bank-sponsored agribusiness study tour to the Netherlands which has been running for over a decade.
“I’m aware that the Netherlands has years of experience in agriculture and its location at the mouth of two large rivers that flow through some of the most productive areas in Europe makes it well-endowed to stand out as an agricultural giant. It is only sensible that Uganda, as an agricultural economy, would seriously consider partnerships in order to gain from the opportunities to commercialize agriculture here.”
The Deputy Ambassador of the Kingdom of the Netherlands to Uganda, H.E Bouwe-Jan Smeding thanked Col. Nakalema for organising the meeting, saying that such engagements are key in negotiating and solving challenges affecting the investors.
“Businesses will only thrive if stakeholders know how things are done,” he said.
“Despite the conducive investment climate, there are always challenges faced by business people like disputes and such challenges threaten people from investing in the country.”
Mr. Smeding also underscored the Netherlands’ contribution to the economic development of Uganda.
“The Kingdom of the Netherlands is the biggest source of Foreign Direct Investment in Uganda,” he said.
The Director of Economic Affairs, Ministry of Finance, Planning and Economic Development, Mr. Moses Kaggwa assured investors that Uganda’s economy is growing steadily.
“It’s good to be in Uganda at this time when we are seeing the take off of this country,” he said.
Mr. Kaggwa added that Uganda is one of the fastest growing economies in the world and the country is moving towards lower middle income status.
“We have also managed to keep our inflation under control, below 4 percent,” he said.
Mr. Kaggwa further revealed that the government has an ambitious plan known as tenfold growth strategy which aims to increase the country’s GDP from USD62 billion to USD 500 billion by 2040.
Additionally, Mr. Kaggwa reaffirmed to the investors that Uganda is ready for business and where things are not moving on well, the government is also ready to adjust.
On behalf of the Ministry of Trade, Industry and Cooperatives, Mr. Cleopas Ndorere, Commissioner in Charge of External Trade, said they are ready to give all the necessary support to make trade possible among business people in Uganda.
“We have negotiated markets in and around Uganda and with the market, it makes trade possible,” he said.
Mr. Isaac Mugerwa, a board member of NUTIP, said the association kicked-off operations in 2013 and currently has 75 members.
According to Mr. Mugerwa, NUTIP aims at promoting trade and investment between Uganda and the Netherlands.
He also appreciated SHIPU’s swift response in addressing their long-standing concern within just two days.
During the same meeting, the investors raised an issue of being tossed around by some government agencies such as URA. In response, Ms.Julian Sabiiti, an official from URA informed them that the authority has already set up a Stakeholders Relations Office to deal with such matters.
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