At least Shs 410bn has been allocated to generating statistics that will guide investors on investment opportunities in Uganda, President Museveni has said.
Museveni said in his New Year message that the investment climate advisory and management department at the ministry of finance will use the money “to generate statistical data for investors who wish to invest in the country.”
“Availability of ready information will quicken decision making by investors,” he said.
There has been concern that some investors lack general information on what opportunities are available in the country. This is the work of the Uganda Investment Authority. Foreign direct investment to Uganda dropped to around $850m in 2016 from $950m a year before due to the slow down in the world economy and elections in the country.
Museveni also said Uganda airlines could fly before the end of 2017.
“Uganda has finalized a plan for re-establishing the national carrier. This will reduce on the financial “haemorrhage” (donation) to other airlines by Ugandans and those travelling to Uganda,” Museveni said.
With most farmers grappling with draught and more districts being ravaged by famine due to poor harvests, Museveni says that in 2017 focus should be on creating more irrigation schemes.
He said at least more than 130 new water irrigation schemes are planned for FY 2017/18, across the country. Every year, a plan for irrigation schemes is read in the budget – most of them are yet to come to life.
On power tariffs, the president said government was in talks with the financiers of Bujagali dam to bring down the cost of power to affordable rates for industries. Earlier, government had talked of buying investors out of the power plant, a plan that never materialised.
The construction of Karuma and Isimba power dams is expected to lower power tariffs, but they won’t be finished until at least 2019.
Museveni said tourism was one of the most promising sectors and that the only issue was that it was lacking publicity.
“The Uganda Tourism Board will aggressively inform the world about our unique climate as well as flora and fauna. Services money is easy money for us, especially tourism,” he said.
amwesigwa@observer.ug