UIA pledges more support to SMEs

The Uganda Investment Authority (UIA)’s Small and Medium Enterprises (SME) Division wound up the 2019 Top100 SME survey by releasing the survey results and awarding the winners with various accolades.

The division supports and facilitates the development of MSMEs who are the majorly domestic entrepreneurs with an overall goal of supporting them become viable.

UIA therefore in addition to attracting them into Uganda, also continues to offer support to those who have already invested to enable them achieve their goals.

UIA Acting Director General Lawrence Byensi however revealed that SMEs in Uganda should expect more support from the UIA.

“The Authority will continue to support such interactive sessions where investor’s share experiences and will also avail more work spaces in the new Industrial Parks of Soroti, Jinja and Kasese,” he said at the awarding ceremony held at Hotel Africana in Kampala.

“The stability since the NRM came to power in 1986, infrastructure development and other the positive economic trends have created an attractive investment climate including the discovery of Oil and Gas and largely contributing to the increasing numbers of investors in Uganda,” he said.

In the Financial Year 2018/2019, UIA registered a 21% increase in planned FDI against the targeted 20% growth as per the Strategic Plan.

This improving investment allure is attributed to many factors including the recently assented to Investment Code Act 2019 by President Museveni.

The Investment Code empowers the authority to continue the development of all forms of investment and business activities in Uganda.

It also empowers the UIA to establish and manage a One Stop Centre that brings together 14 government agencies related to investment under one roof.

This is saving investors time spent while moving from one office to another looking for the different requirements for registering a business in Uganda.