Five good reasons why invest in Uganda
- A stable and open economy
Uganda has established a remarkable track record of macro-economic stability since the launching of its economic reform program in 1987. Growth has been strong, inflation has been low and poverty has been falling. The country has a liberal foreign exchange regime, with a stable, market-driven exchange rate and no restrictions on the movement of capital. The Economic Freedom Index, published by the Heritage Foundation in the United States, judged Uganda to be the second freest economy in sub-Saharan Africa. In keeping with this openness, there is in general a very strong commitment by the Government to the private sector as the engine of growth.
- Market access/Our Target
Uganda enjoys a geographical location at the heart of Sub-Saharan Africa. It is a member (along with Kenya, Tanzania, Rwanda, Burundi and South Sudan) of the East African Community (EAC), which has a population of 180 million and which has just agreed to establish the East African Customs Union, with a common external tariff. Uganda is also a member of the Common Market for Eastern and Southern Africa (COME-SA), an organization representing a total population of 700 million in 20 countries. In addition, Uganda enjoys preferential access to a number of foreign markets. It benefits from the African Growth and Opportunity Act (AGOA) with respect to the US market and the Everything but Arms (EBA) initiative with respect to the EU market. There is similar advantage vis-à-vis the markets of Canada, Japan and other countries.
- Natural resources
Uganda is richly endowed with conditions suitable for many kinds of agricultural activity: rainfall, soil and climate. It is home to the largest freshwater lake (Lake Victoria) and the second longest river (Nile) in the world. Lake Victoria is said to have 350 species of fish, including the Nile perch and tilapia. There are plenty of unexploited mineral deposits, including confirmed deposits of gold, zinc, wolfram, petroleum, diamonds, vermiculite and silica. Finally, Uganda has substantial advantages for tourism. In the words of Winston Churchill, “for magnificence, for variety of form and color, for profusion of brilliant life – plant, bird, reptile, beast – for vast scale, Uganda is truly the Pearl of Africa”
- Government commitment to Private sector and Security of Investment
- Government and private sector dialogue in policy formulation
- Continuous improvement in providing infrastructure and other social services
- Guaranteed under the Constitution and the Investment Code 1991.
- Uganda is a signatory to main international investment related institutions
- Multi lateral Investment Guarantee Agency (MIGA)
- Overseas Private Investment Corporation (OPIC) of US
- Convention on the recognition and enforcement of foreign arbitral award (CREFAA), ICSID, TRIMS, GATS, and TRIPS