By Julius Mugaga Tukacungurwa/Umoja Sttandard.
KAMPALA: Uganda’s Minister for investment and Privatization, Hon. Evelyn Anite during the Wednesday’s X-Space conversation, highlighted a number of incentives within her docket that are so appealing to prospective investors to conduct business.
Of these, there are those that are taxable and non-taxable incentives- all in place to favor investment in the country. These are land mortgaging for acquisition of loans to develop their businesses. She shed light that, any investor who is able to meet the requirements of acquisition of land, they are able to use it as a collateral security.
On local investors specifically, who would like to mortgage land are required to have invested 30% of the total investment amount.
Local Investors are required to have at least $50,000 and foreigners $250,000 and on this, Minister Anite noted that Uganda is one of the favorable destination in Africa
On that day, Mr. Morrison Rwakakama the Board Chair of Uganda Investment Authority informed that they too have a number of incentives like acquiring free investment license and land in industrial parks especially in Nmanve, Kisoro and others