We have agreed to reduce electricity, interest rates, internet costs for manufacturers, agricultural sector – says Museveni

President Yoweri Museveni and Prime Minister Ruhakana Rugunda attend the presidential investors’ roundtable at state house Entebbe on Thursday, February 7. (PPU PHOTO)

ENTEBBE – President Yoweri Museveni on Thursday, February 7, chaired the 6th Round of the annual Presidential Investors’ Roundtable (PIRT) meeting at State House, Entebbe.

Museveni has also revealed that by the end of the engagement, stakeholders resolved on a number of issues including the cost of electricity for manufacturing that is currently at 8cents per unit saying that this will be reduced to 5cents for big, medium and small enterprises.

“While we have improved the major road network, there is a need to make new and cost friendly means for cargo. That means the biggest pusher will be the railway and water transport,” he said adding that government is taking steps to reduce the cost of money and internet for people in manufacturing, agriculture and some elements of services.

Museveni holds presidential investors roundtable at state house Entebbe on Thursday, February 7. (PPU PHOTO)

Museveni said that Wananchi were represented by respective officials of Government agencies and departments, international and local private sector representatives in sectors of Tourism, Agriculture, Minerals, oil and Gas and Transport.

He added that the overall aim of the Presidential Investor’s Roundtable (PIRT) is to improve Uganda’s competitiveness in the world economy stressing that “this is a very useful forum where we interface and get free consultancy that injects energy in an otherwise laid-back way of doing things.”

The PIRT is a high-level forum that brings together a select group of both foreign and local investors to advise the government on how to improve the investment climate in the country.

The PIRT process and engagement, which is coordinated by the Prime Minister in collaboration with the Uganda Investment Authority (UIA), has continued to grow and develop since its launch in 2004.

Previous PIRT phases have focused on selected strategic thematic areas key among others, agribusiness, ICT, Education, Infrastructure, and the Regulatory Environment.



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