The Uganda Investment Authority is a government agency that was established in 1991 to promote and facilitate funding in Uganda. It is responsible for attracting, promoting, and retaining both local and foreign capital in the country. The agency provides a one-stop center for investors, offering a range of services including funding advice, business registration, licensing, and incentives.
Since its establishment, the authority has played a significant role in attracting foreign direct funds to the country. The agency has been instrumental in creating an enabling environment for financiers, through the provision of a range of incentives such as tax holidays, duty-free imports, and streamlined fiscal procedures. These incentives have helped to attract several foreign financiers to Uganda, particularly in the areas of agriculture, manufacturing, and tourism.
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Main aims of UIA
The UIA aims to promote and facilitate investments in the country’s priority sectors, including agribusiness, tourism, and minerals. This is achieved through the provision of funding incentives, market intelligence, and investor aftercare services.
The UIA also plans to enhance the country’s financial climate by improving the ease of doing business. This involves streamlining business registration processes, reducing the time and cost of obtaining permits and licenses, and addressing any regulatory bottlenecks that may hinder investment.
Moreover, the agency intends to strengthen its partnerships with other government agencies, development partners, and the private sector to promote funding and economic growth in the country.
Key alliances
The Uganda Investment Authority (UIA) has formed several business alliances with various organizations to promote funding and economic growth in the country. These alliances have been crucial in attracting foreign investors and creating job opportunities for the local population.
One of the most notable alliances is with the China-Africa Development Fund (CADFund), which has invested over $100 million in various projects in Uganda. This has led to the establishment of several manufacturing plants and infrastructure projects, which have created thousands of jobs for Ugandans.
In addition, UIA has also formed partnerships with the United Nations Development Programme and the International Finance Corporation to promote sustainable development and support small and medium-sized enterprises in Uganda. These coalitions have provided technical assistance, training, and access to financing for SMEs, which has enabled them to grow and contribute to the country’s market.
Top facilities
Following are the top facilities provided by UIA
- UIA provides investors with information on investment opportunities in Uganda.
- The organization also offers guidance on funding policies, procedures, and regulations.
- It assists investors in registering their businesses in the nation.
- It provides information on the legal requirements and helps financiers navigate the registration process.
- The agency promotes Uganda as an investment destination.
- The agency organizes conferences and seminars.
- UIA provides aftercare services to investors who have already invested in the country.
- It facilitates investors in obtaining licenses, permits, and other necessary approvals.
- The organization also assists investors in accessing government incentives and benefits.
For investors, investing in the nation can present a profitable opportunity. Traders can easily navigate the investing landscape with the help of the services offered by UIA.
Laws and acts of UAI
One of the key laws governing investment in Uganda is the Investment Code Act of 1991. This act provides a legal framework for ventures in the country and outlines the rights and responsibilities of investors. The act also establishes the UIA as the primary agency responsible for promoting and facilitating investment in the country. The UIA is responsible for implementing the provisions of the Investment Code Act, and ensuring that investors receive the necessary support and guidance.
In addition to the Investment Code Act, several other laws and regulations govern funding in the nation. These include the Companies Act, the Tax Procedures Code Act, and the Land Act. These laws and regulations provide additional guidance and support to investors and help to ensure that funding in Uganda is conducted reasonably.
