Seven members of the Uganda Investment Authority (UIA) board that was recently appointed by the Finance Minister Matia Kasaija has been inaugurated.
The seven were appointed following the presidential assent to the new Investment act which among other things led to the reduction of the UIA board members from 13 to seven.
While presiding over the inauguration ceremony held at the UIA board room today, the state minister for investment and privatization Evelyn Anite tasked them to attract high quality foreign direct investments in the country.
Anite said the authority has been fond of attracting quack investors a vice that must stop.
She said the investors must be able to add value to the country's natural resources and also provide decent jobs to Ugandans.
The minister also cautioned the new UIA board members against corruption or risk their contracts being terminated.