MPs Order Expulsion Of Investors

MPs Order Expulsion Of Investors   

By Serestino Tusingwire

Members of Parliament on the Trade, Industry and Cooperatives committee have given foreign investors in retail business a three-month ultimatum to either invest in bigger businesses or return to their home countries.

This decision was reached on yesterday when the MPs met with city traders after the latter petitioned Parliament about the influx of foreigners in retail business.

According to legislators, the majority of foreigners, especially Chinese, come to Uganda as investors, after reaching, they flock to Kikuubo and other urban centres for retail business, which in turn affects Ugandan traders due to increased competition.

The committee chairperson, John Bosco Lubyayi (Mawokota South) said, as MPs, their salaries are drawn from taxing traders and that it would be inconsiderate for Parliament to watch on as their businesses collapse.

“We made an unarranged visit to Kikuubo and found out that the Chinese are financially torturing Ugandan traders because they sell merchandise at subsidized prices, making Ugandans stuck with theirs. This is very bad and they must become investors because that’s what their licenses read. In three months’ time, we need them out and we are going to compile a report and submit it to the President,” Lubyayi said.

Kampala Woman MP Nabilah Nagayi accused the Trade ministry of failing to issue an order to stop foreigners from retail business.

About Post Author