Uganda Attracts Foreign Businesses

The East African nation of Uganda has seen a steady flow of FDI due to sound economic planning...

Uganda is a landlocked country in East Africa with a total estimated population of about 31 million people. The country is bordered on the east by Kenya, on the north by Sudan, on the west by the Democratic Republic of the Congo, and on the south by Rwanda and Tanzania.
With a unique strategic location and one of the fastest growing economies in Africa sustained growth averaging 7.8 per cent since 2000, Uganda offers exceptional business opportunities in the heart of Africa. By providing a conducive environment and a wide range of incentives, the country has been significantly successful in mobilising both foreign and domestic investment.

The steady growth in FDI inflows is accredited to the remarkable macroeconomic and political stability as well as proactive investment promotion efforts made worldwide.

Uganda has been secured and guaranteed by membership in various free trade and market access preferences offered to the country. The Common Market for Eastern and Southern African states (COMESA), a region with a market of over 470 million people in 19 countries is one of the groupings in which Uganda is a member, guaranteeing the business community more than 80 per cent tariff reduction in this regional market.

Government and private sector dialogue in policy formulation are at the highest level and at the center of business development processes in the country. A Presidential Investor’s Roundtable chaired by the Country’s President is in place to ensure that government policies keep the private sector at the centre. Business development strategies including the Investment Climate Strategy (CICS), the National Export Strategy (NES) and other regulatory frameworks have all been put in place under Public-Private Sector Partnerships. As a result, many vibrant private sector associations have come up to advance their members’ concerns.

 

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