UIA signs an MOU with Buganda Kingdom to promote the regionBy Uganda Investment Authority
Uganda Investment Authority has signed a Memorandum of Understanding with Buganda Investments and Commercial Undertakings Limited, (BICUL). BICUL is the investment arm of Buganda kingdom at Bulange, Mengo. The MOU is aimed at establishing a partnership in promotion of the investment opportunities in Buganda Kingdom aimed at the development of the economy.
The Minister in charge of Investments in kingdom, Mw. Nsibirwa Wagwa appreciated the continuous engagement with UIA that has unfolded ways of promoting Buganda investment opportunities. “This relationship between Buganda and UIA will boost investment in Buganda.” He said.
Eng. Dr. Sebbowa, the Executive Director of Uganda Investment Authority informed the media and Buganda kingdom officials who attended that UIA has bankable projects ready for funding by investors. “We profile investment information that helps investors know about the country and its bankable opportunities. What attracted us to sign this MOU is that Buganda is positioned strategically where most of the resources are. We are ready to unveil these investment opportunities in Buganda and profile them as bankable projects that will be shared with the investors.” He said.
The Katikkiro of Buganda, Owek. Charles Peter Mayiga appreciated UIA’s efforts in attracting investments. He said that globally, investments were crucial in any country’s economy because they provide jobs for the nationals and are a source of government revenue through taxes.