Finance Minister Matia Kasaija praised the consistent leadership of President Yoweri Museveni, attributing it to the country’s resilient economy characterized by a low inflation rate and increased investment flows across various sectors. Minister Kasaija made these remarks during the official opening of the East African Trade and Investment Forum held at the Kampala Serena Hotel on Tuesday.
Highlighting the areas experiencing growth, Kasaija mentioned agricultural value addition, manufacturing, ICT, oil and gas, tourism, and services. He asserted that the government, under President Museveni’s leadership, has implemented significant reforms to streamline processes and remove bureaucratic hurdles hindering investment in Uganda.
The ongoing three-day East African Trade and Investment Forum, aligned with the 19th summit of the Non-Aligned Movement (NAM), adopts the theme “Unlocking East Africa’s potential on the global stage.”
Kasaija emphasized the commitment to facilitating investments through initiatives such as the Uganda Investment Authority’s (UIA) One Stop Center, designed to be a single point of contact for all investment-related approvals. This initiative aims to expedite the approval process, reduce red tape, and enhance efficiency for investors.
The minister elaborated on the services offered at the One Stop Center, including company registration, tax permits, environmental impact assessments, and work permits. Kasaija stressed that this approach not only saves time but also decreases the cost of doing business, positioning Uganda as an attractive investment destination.
In addition to the One Stop Center, the government has implemented various reforms to improve the overall business climate. Simplified tax procedures, enhanced infrastructure, particularly in electricity, and investments in human capital development are among the measures taken.
Kasaija underlined the government’s commitment to good governance, transparency, and the rule of law, ensuring a stable and predictable business environment. He pointed out Uganda’s strategic location at the crossroads of East and Central Africa, positioning it as a gateway to a market of over 500 million people.
The minister extended a warm invitation to investors, urging them to explore the vast potential that Uganda offers. Kasaija concluded by expressing the government’s dedication to providing necessary support and creating an enabling environment for businesses to thrive, fostering shared prosperity and mutual growth for Uganda’s future.
