Diaspora encouraged to tap into investments at home

KANYERE HAKIM Ugandans living in diaspora has been encouraged to tap into the available local investment opportunities in a bid to enhance domestic investment.

According to the acting director Uganda Investment Authority (UIA) Basil Ajer, Ugandans living diaspora contribute over $ 1.4 billion to the national GDP annually hence if this money is put into proper investment, definitely the dream of transforming Uganda into a middle income country can be realised.

Ajer made the remarks during the two day diaspora summit held in Jinja.

Despite the vast investment oppotunities in different sectors in the country, many Ugandans have not taken a notch high to tap into local investment.

In a bid to enhance domestic investment, the UIA has embarked on sensitising Ugandans living in diaspora.

During a two day seminar dubbed Home is the Best Diaspora summit, organised by UIA several options on how to flourish in domestic investment were floated. Charles Ocici, the executive director Enterprise Uganda emphasised the need for the local investors to make a good choice of the business partners in any business.

Some local leaders who attended this summit pointed out areas where the potential investors can tap. Jinja town has vast investment potential especially in the industry and tourism sector due to its strategic location on the banks of Africa's longest river, River Nile and on the shores of Lake Victoria