Egyptian Business delegates visit UIABy Uganda Investment Authority
A 9 man Egyptian business delegation visited Uganda Investment Authority (UIA) recently to explore the various investment opportunities in different sectors e.g. agro processing, construction services, power generation, Information and Communication Technology and tourism.
Mr. Byensi Lawrence, the acting Executive Director identified the possible investment bankable projects and informed the delegates that government gives priority to investment in 4 major sectors namely agro processing (value addition to agricultural products), mineral beneficiation, tourism and ICT although projects in other sectors are also welcome. He further informed the delegates that Uganda’s economy is fully liberal so a company can be fully foreign owned or a joint venture. “We also give a 10 year tax holiday to a company that exports 80% of its products to the outside market”. He added.
Eng. Ayman El Zanaty, the delegation head inquired about the process and what it takes to set up a company in Uganda. In response to his inquiry, Mr. Byensi introduced the physical and electronic One Stop Centre with all necessary services from different government bodies that include Uganda Revenue Authority, Uganda Registration Services Bureau, Lands Registry, Uganda National Bureau of Standards, National Environment and Management and Directorate of Citizenship and Immigration Control all situated under one roof at UIA.