Government will save Shs3.4bn spent yearly on rent once the construction of the Uganda business facilitation Centre (UBFC) is completed.
This was revealed yesterday by the Prime Minister, Dr Ruhakana Rugunda while presiding over the ground breaking ceremony for the 12 storied- four basement facility that is going to be constructed on Plot 1 Baskerville Avenue in Kololo.
In his speech, the Prime Minister said that the facility which will host three government agencies namely; Uganda Investment Authority, Uganda Registration Services Bureau, the Capital Market Authority and a One Stop Centre with a provision for 15 service points for other government agencies will improve service delivery to the private sector by ensuring that less time is taken in registering and starting a business.
“Once the UBFC is completed, it will save government some Shs3.4 billion annually in rent that is currently being paid by three agencies. These savings can be redirected to meet other development priorities,” Rugunda said.
He added; “It is Government’s commitment that we improve service delivery through collaborative working amongst agencies. This will reduce duplication and wastage in terms of time and cost that people spend when dealing with government agencies.”
The building will cost Shs54 billion and the construction is being undertaken by M/S China National Technology Engineering Corporation (CATIC) under supervision of M/S Sentoogo and Partners.
However, the Prime Minister cautioned CATIC and the supervisor against shoddy work, saying nothing less than excellent and timely delivery will be accepted.
The State Minister of Finance for General Duties, Gabriel Gadison Ajedra, while speaking at the same function said that government spends more than Shs100m on renting office spaces annually.
UBFC is being undertaken under the Competitiveness and Enterprise Development Project (CEDP), as a government of Uganda project funded by the World Bank and coordinated by the Private Sector Foundation Uganda (PSFU).
According to Ms Sheila Kulubya, the World Bank head of communications, said that the project is one of the many that World Bank has funded to improve on the ease of doing business in Uganda and the business environment.
The World Bank has been a big partner in funding major project aimed at facilitating the ease of doing business in Uganda like major infrastructures like roads, electricity dams and Skills development projects.
Once the facility is completed, the government hopes it will improve the country’s ranking in the ease of doing business, which has since dropped seven places as its peers—Rwanda and Tanzania continue making strides.