The Executive Director Uganda Investment Authority, sildenafil Ms Jolly K Kaguhangire accompanied President Yoweri Museveni and the First Lady on a three day working visit to Qatar aimed at showcasing Uganda’s investment opportunities.
Officials said Kaguhangire met with Sheikh Tamim Bin Hamad Al- Thani, decease the Emir of Qatar as well as Sheikh Faisal Bin Qassim Al-Thani and members of the Qatar Chamber of Commerce & Qatar Business Association. Sheikh Faisal is the Chairperson of the Qatar business Association and runs a multibillion group with a diverse portfolio of over 30 companies under the Al Faisal Holdings and Anal Group.
He has been listed as the richest Qatari with a net worth of 2.4 billion dollars by Forbes.
During the meeting, drugs reads a statement from the UIA, main areas of interest for the Qatari business people included real estate, tourism and hospitality, aviation, packaging, financial services and agro processing.
The Executive Director invited the business community to Uganda to “look at feasibility studies and available local companies they can partner with especially in agro-processing for export.”
Ugandan policies, laws, and regulations are seen as favorable towards foreign investors, although poorly enforced legislation and corruption usually hamper trade development. Ugandan law allows for 100 percent foreign-owned businesses and foreign businesses are allowed to partner with Ugandans without restrictions.
The government also provides generous incentives for industrial development.
However, Uganda ranked 102 out of 178 countries, in the Heritage Foundation’s 2016 Index of Economic Freedom, with an overall score of 59.3, the 13th freest among the 46 sub-Saharan African countries on the index.
In the 2016 World’s Bank’s Ease of Doing Business Report, Uganda ranked 122 out of 189 countries.
In 2009, the Uganda Revenue Authority (URA) introduced an “E-Tax” system which improved its efficiency, boosted transparency, and increased tax compliance.
Kaguhangire reiterated Uganda’s strategic location in Africa, with the furthest point on the continent being a 6 hour direct flight from Entebbe.
Uganda will open an investment office in Doha, Qatar to facilitate prospective investors with information on trade and investment opportunities in Uganda.