UIA, UNCCI Signs MoU To Deepen Investment Portfolio

By Moses Oketayot 

Kampala – Uganda Investment Authority (UIA) in collaboration with Uganda National Chamber of Commerce and Industry (UNCCI) on Tuesday  signed  a MoU to create tangible solutions to improve the investment and commerce portfolio in the country.

According to the Director General of Uganda investment Authority (UIA) Mr. Robert Mukiza, National chamber of commerce and industry (UNCCI) is a good partner to deal with both locally and globally interms of investment. By virtue of the MoU, there will be more areas of cooperation as operation shall begin and this will definitely enhance partnership to both local and foreign investors.

He thanked the Solicitor General and the Attorney General  for approving the agreement. He also acknowledged that chambers of commerce are very strong interms of promotion of investment efforts which makes a good conduit for UIA to reach potential investors.

In the long term Uganda’s investment agenda, UNCCI is the one of the best bodies that an investment authority should tap on to push and enhance the agenda.

He also emphasized that, using their scope of network UNCCI will be able to link then with more investors citing the events they normally organise internationally and locally giving an example of the forthcoming UK convention summit organised by London chamber of commerce, which the President of Uganda is expected to attend.

This will enable UIA to promote and expose jobs to markets of investment. Concerning local investment, the vast information available for local investors can be easily shared between the two institutions giving an example on how domestic investors may be having money to invest but they lack information on how to invest their money and make profit.

“The available information will be shared and even train local investors through this MoU arrangement,” said Mukiza.

The Secretary General of Uganda National Chamber of Commerce and Industry, Ms. Immaculate Owomugisha, submitted that UNCCI being the oldest nation-wide umbrella organization for the private sector in Uganda, they appreciate the idea of  working together with UIA.

She noted that within their mandate as UNCCI, Uganda investment Authority is a key stakeholder for more and different engangements they have both locally and internationally.

She acknowledged that the MoU is one way of enabling the two institutions to cement a long lasting relationship.

According to Owomugisha, UNCCI has a lot of activities; one of which is training and ensuring that Ugandan standards  conform to international markets and through this, on many occasions UIA collaborated in many trainings in terms of quality and quantity that needs to be provided.

She added that, concerning market research and access with business engagements, trade missions inwards and outwards through exports, the larger picture is inviting many investors which is in the main role of UIA.

“On top of that we would like to know what is required, the available opportunities and incentives, it’s through this partnership that the available information will be availed on time,” she explained.

Because UNCCI represents different organs of government and through this MoU, it’s an opportunity to make sure that policies are formulated well and therefore the two entities believe that arrangement will streamline and help in fast-tracking investment policies and changes to the business community in the country.