Housing Finance Bank engages stakeholders on foreign direct investments in Uganda
Stakeholders have brainstormed on attracting foreign direct investments in Uganda and how to encourage Ugandans to take part.
Speaking during a breakfast meeting at Serena Hotel Kigo organized by Housing Finance Bank under the national coordinator for parliamentary forum on labour, decent employment and productivity, Laban Musinguzi said there are untapped opportunities for the Ugandan economy to recover through foreign direct investment.
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"Today, we are discussing our potential and the opportunities that we can exploit. We know that from foreign direct investment, we can push our country for the next decade,"Musinguzi said.
Speakers noted that labor export, government securities, real estate, and a conducive investment environment are some of the critical points to encourage Ugandans abroad to invest back home.
"We propose that we need to attract the diaspora to invest in Uganda. We need to set up a task force to package these proposals nicely and carry out sensitization informing people that there is a framework in place,” said Arnold Bagubwagye, the Director Financial Market at Bank of Uganda
Peace K. Ayebazibwe, the Executive Director of Housing Finance Bank said the bank had undertaken some initiatives to encourage foreign direct investment from Ugandans living abroad while still improving the livelihoods of the people at home.
"We have simplified the process of investing in treasury bills and bonds as well as real estate for customers in the diaspora. These are just a few of the areas where we support our customers. Additionally, we have built over 500 houses for people who are working as Boda Boda riders and taxi drivers with our Zimba Mpola Mpola Incremental loans. We launched this product at one of the homes of the Boda riders,” she said.
The event came at a time when the country is experiencing inflation and high fuel prices whose impact is affecting the majority of Ugandans, especially those still living under the poverty line.
