The Head of the State House Investors Protection Unit, Col. Edith Nakalema, has urged the Uganda Revenue Authority (URA) and the Ministry of Finance to review taxes on new innovations and reduce bureaucratic procedures that frustrate investors and discourage foreign investment.
Col. Nakalema made the remarks while meeting over 50 investors under the Netherlands–Uganda Trade and Investment Platform, whose ventures are collectively valued at USD 2 billion. The meeting aimed to identify and address challenges affecting the investment environment in Uganda.
The delegation, led by the Deputy Ambassador of the Kingdom of the Netherlands, Bouwe-Jan Smeding, engaged with Col. Nakalema to discuss ways to strengthen trade and investment relations between the two countries.
During the discussions, several investors expressed concern over delays in goods clearance, inconsistent tax classifications, and poor service delivery by some government agencies, particularly the URA and the Ministry of Finance.
In response, Col. Nakalema emphasised the need for government agencies to align with President Museveni’s directive of “Don’t delay an investor, don’t frustrate them.” She called for reduced taxes on new innovations to encourage creativity and industrial growth, warning that continued bureaucracy could cost Uganda valuable investment opportunities.
“We must make it easier for investors to operate. Lowering taxes on innovations and cutting red tape is key to driving industrial and technological growth,” Nakalema said.
She also assured investors of stability and a secure business climate, even during the ongoing political season, reiterating the State House’s commitment to protecting legitimate investors.
Deputy Ambassador Bouwe-Jan Smeding underscored the importance of transparency and accountability in public finance management, saying good business thrives in an environment where people trust how public resources are used.
“Transparency and accountability are vital for investor confidence. When people see that money is being used properly, they will invest more,” Smeding noted.
The Manager of Stakeholder Relations at URA, Julian Sabiti, said the authority has set up dedicated offices across the country to handle investor grievances and enhance communication with the business community.
At the same event, Moses Kaggwa, Director of Economic Affairs, Planning, and Development at the Ministry of Finance, reaffirmed government’s commitment to supporting the private sector, describing it as “the engine of economic growth.”
“The government recognises the private sector as a key driver of our economy. We are committed to creating a more supportive and predictable environment for investment,” Kaggwa said.
The engagement ended with a joint call for closer collaboration between the public and private sectors to enhance Uganda’s competitiveness as a regional investment destination.