Minister Anite tells investors off wetlands

By Moses Kidandi
The state minister for investment and privatization Evelyn Anite has directed Uganda Investment Authority not to license any investor whose land is in the wetland in a bid to protect the environment.

The minister says Uganda cannot continue risking its richly endowed nature all in the name of investments.

The minister sounded the directive during a meeting by the Uganda Investment Authority and the local investors held today at the finance ministry to ascertain their challenges and how they need to be helped by government.

During the meeting, local investors were assured of government’s commitment towards supporting them to able to create employment opportunities and develop their country.

Patrick Bitature, the chairperson private sector foundation said local investors ought to be supported just like their foreign counterparts since they are the ones who can develop their country better.

New board members of Investment authority asked to screen investors

By Moses Kidandi

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.

Museveni warns Ugandans against intimidating investors

President, Yoweri Museveni has warned Ugandans against intimidating and bad mouthing investors who come to do business in Uganda.

According to Museveni, the continuous hatred of Ugandan traders towards foreign investors spells doom for the country’s economic prosperity.

Last month, city traders went up in arms against government for licensing foreigners to engage in petty trade. However, Museveni says such rants are not good if Uganda is to attract more investors who have created jobs for Ugandans.

Museveni was speaking during the commissioning of a multi billion dollar Sun Belt Textile company in Masese division in Jinja municipality on Monday evening.

He pledged to repair roads that connect Jinja to other parts of the country to ease trade in order to create an enabling environment for investment.

Museveni asked Ugandans to come together to create an enabling environment for the investors to create more jobs. Sun Belt Textile Company, which started operating in 2012, manufactures bed sheets, blankets and bed covers among others.

It employs over 1000 employees.

 

Foreign affairs ministry depots over 400 Asian fake investors

By Robert Ssegawa
The directorate of immigration and citizen control in the ministry of internal affairs has recruited 70 personnel get rid of fake investors.
The assistant commissioner in charge of inspection and legal services Kamugisha Ludovic says they have intensified operations to crackdown on foreigners who come as investors and then engage in petty business like selling shoes, Super markets, Pharmacy and cosmetics.  He adds that so far 402 illegal migrants from India, China and Pakistan have been deported this year alone.
These were found operating in Kampala, Mbale and Jinja town.