The Uganda Convention UK has achieved milestones and surpassed all its targets in the years since its establishment in 2010. The foundation for this initiative was in reflection of our quest to contribute positively to our Uganda’s economy and increase its GDP through showcasing Uganda as the “Land of opportunities”.
The purpose of the Uganda Convention is to offer authoritative insight on development trends and opportunities in Uganda through a forum that bring together experts, senior government officials, business leaders, professionals and representatives from prominent organisations based in Uganda, the UK, Africa and internationally.
It is our duty to Control the Narrative: “Uganda is the Land of Opportunity” and pivoting the role of the Ugandan Diaspora from family remitters to financial and social investors.
Uganda has been consistently drawing the highest FDI in East Africa, attracting between $250 – 300 million in FDI annually between 2010 and 2016 – largely due to its stable and consistent macro-economic policies, liberalized business environment, proximity as a logistics hub within the Great Lakes region and increased regional trade. British investors were particularly active, with 10 project commitments, followed by Dutch companies.
The convention brings together experts, high profile business and government delegates from Uganda and UK, business leaders, Ugandans in the Diaspora, professionals and representatives from prominent organisations based in Uganda, the UK and beyond. Delegates have access to up-to-date information on the vast potential for investment that Uganda offers to both the domestic and international community. They can acquire business tips, obtain relevant literature on priority sectors for investment, take part in an interactive Q & A session and hear about the realities of doing business in Uganda.
The delegates also have a chance to a one on one with a dedicated team from a One Stop Centre (OSC) to answer questions from business registration, tax advice and registration, immigration and work permit issues, land acquisition and verification, as well as environmental compliance, approvals and licensing.
The 2013 Index of Economic Freedom ranked Uganda, the 8th freest economy out of the 46 Sub-Saharan Africa countries. The business operating environment allows the full repatriation of profits after payment of mandatory taxes as well as 100% foreign ownership of private investments. The incentive regime is structurally embedded in the country’s tax laws making them non-discriminatory and accessible to both domestic and foreign investment depending on the sector and level of investment.
Over 100 UK and UK companies operating in Uganda; include well-known companies like Tullow Oil, Standard Chartered Bank, Barclays Bank, Unilever, Citibank; Prudential; AIG; Caterpillar; John Deere; NCR; Sheraton; Marriott; FedEx, Ernst & Young, Deloitte; Price Waterhouse Coopers; General Motors; Coca-Cola; Pepsi-Cola; and American Tower Corporation, Shell and British Airways.
Benefits for British businesses exporting to Uganda include;
- stable, liberalised economy
- strong natural resource base
- government commitment to private sector
- low cost workforce
- part of 2 regional blocs which increases the potential consumer base
- attractive investment policies
A potential investor considering investing in Uganda, will find a well-regulated highly liberalised economy in which all sectors are open for investment with a free movement of capital to and from the country.
Top prospect sectors for UK exports to Uganda include; agro-processing, farm and construction equipment; oil production technologies; power generation; renewable energy technologies; manufacturing equipment; information and communication technology products; medical equipment; pharmaceuticals; cosmetics; and consumer goods.
“Britain’s reputation – the goods and services offered by British businesses are often, if not always, considered superior to those of its competitors. It is seen to have a quality, akin to a Kitemark Standard, that others simply don’t match. Uganda Government is very keen on the involvement of British project management whilst other countries can offer cheap labour."
More information at https://www.ugandanconventionuk.org/
