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Gov’t Now Targeting Ugandan Investors

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Having invested in their own country more than foreigners in the last 25 years, the government is now going to pay more attention to Ugandan investors than ever before.
The move is contained in the new Uganda Investment Authority-UIA Strategic Plan 2016 – 2021, which has been aligned to the National Development Plan II and the Uganda Vision 2040.
The strategy focuses on better investment generation within Uganda while also still pursuing foreign direct investments.
Dr. Frank Sebbowa, the Executive Director of UIA, says 52 percent of investments in the last 25 years have been by Ugandans and this has led to the change in direction although foreign investors will also still be targeted.
In the early years the investment body focused mainly on foreign investors because the target was on jobs, taxes, technology transfer, expert manpower and foreign exchange, among others.
The foreign investors were pampered with numerous investment and tax incentives at the expense of Uganda. While some delivered, others exploited the incentives but never delivered the goodies.

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