Uganda UK Convention Boss Roots for Investment In Uganda
The Vice-Chairman of Uganda convention in UK has advised Ugandans in the Diaspora to take advantage of the conducive investment environment and incentives.
Mr. Bernard Robinson Magulu; CPA, FCCA, the Vice President of Uganda Convention in UK and Country Representative has advised Diasporans to utilise the current boost in the investment climate in Uganda:
Bernard appealed to Ugandans in the Diaspora to take advantage and target sectors like: Agriculture/Agribusiness & Agro-processing; Tourism; Minerals/Oil &Gas; and Science, Technology & Innovations (STI) including ICT.
He encouraged Diasporans to take advantage of the Industrial and Business Parks that Uganda Investment Authority (“UIA”) is setting up countrywide which aim to introduce new research technologies and subsequently increase revenue generation for Uganda.
He also urged the Ugandans in the Diaspora to setup business targeting industrial parks in their home regions. UIA also approved another four (4) regional science and technology industrial parks in Kyankwanzi, Rubirizi, Kamuli and Nebbi Districts to improve scientific and industrial innovations linked to major research institutions in the Country.
Quoting a recent interview by the Ag. Executive Director of UIA Mr. Byensi; Mr. Bernard Magulu affirmed that agriculture remains the major economic backbone of Uganda.
Indeed, there are many Government programmes geared at increasing productivity, for instance Operation Wealth Creation (OWC) project.
As these bear fruit, there is a big need to add value to the increased output, investment in agro processing for export and packaging.
Packaging is a very integral sector to competiveness in exports. Uganda has a very long list of exportable agro products.
Mr. Magulu also cited opportunities in the tourism sector potential where there is a potential in the creation of new tourism products, good affordable accommodation and all the other businesses that surround tourism i.e. crafts, culture (lifestyle experience, theatres, drama, food, etc.). Other sectors with viable areas of investment e.g. Logistics, food supply, waste management, etc.
In order for Uganda to improve its economic growth, a need to attract more investments in value addition to Uganda’s resources is crucial.
According to Mr. Charles Omusana Director Investment Facilitation, investors can now use the UIA electronic One Stop Centre, eBiz which has modules like the Business Registration System (BRS), the online application for an investment license (UIA), the online application for an environmental impact assessment (NEMA), the interface to the e-VISA to process online applications for Visas and special permits and passes, and the online application for the City Operators Identification Number (COIN).
The business registration process is now fully automated and an investor (both local and foreign) can apply to register a business online on the e-BIZ platform (www.ebiz.go.ug) thereby bringing all investor-related services under one roof.