Most Ugandans in Diaspora are ignorant of the investment incentives – New Vision

Posted By on July 14, 2022

Majority of Ugandans living in the diaspora are not aware of the investment incentives available to both local and international investors.

Deputy Speaker of Parliament Thomas Tayebwa who has just returned from a working tour of Canada and USA said there were so many Ugandans who want to invest back home but do not know about the incentives available.

When I interacted with Ugandans living in the diaspora, I discovered that they dont know the investment climate in this country. Most of them think the business opportunities here are preserved for foreigners, yet even the locals have very important incentives, he said.

We need the Ministries of Finance, Foreign affairs and Uganda Investment Authority to share adequate information to our embassies on incentives available for local Ugandan investors.

During the meeting, they kept asking me whether they could register as foreign investors in their own countries. When I told them of some of the incentives available, they could not believe it, Tayebwa said during plenary.

He noted that some of the Ugandans living abroad work for big companies, multinational organizations and would act as the first line of ambassadors since not all investors would want to go to the embassy.

Diaspora brings in $1.4b annually into the country. This is a constituency we need to start looking at seriously. We always waste money going to look for investors of $2m when we have our own who bring in billions of dollars, he said.

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Most Ugandans in Diaspora are ignorant of the investment incentives - New Vision

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