• EDITORIAL POLICY
  • ABOUT US
PML Daily
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
PML Daily
No Result
View All Result
Home BUSINESS

UIA sets special desk for diaspora

JAVIRA SSEBWAMI | PML Daily Staff Writer by JAVIRA SSEBWAMI | PML Daily Staff Writer
January 3, 2020
in BUSINESS
0 0
6
SHARES
173
VIEWS
FacebookWhatsAppTwitter
Mr. Byensi told the Diaspora that they a constituency that cannot be ignored by government due to their contribution to the country (PHOTO/Courtesy)

KAMPALA – Uganda Investment Authority (UIA) has established a dedicated Investment Desk for the Diaspora, the Authority’s Acting Director-General Lawrence Byensi has revealed.

Annually, UIA organizes The Diaspora Home is Best Summit as one of the major efforts to inform the Ugandan Diaspora about the status of investment in the country and investment opportunities so that they can invest back home.

The summit culminated in a social networking gala dinner that was held at Kampala Serena Hotel.

Mr. Byensi told the Diaspora that they a constituency that cannot be ignored by the government due to their contribution to the country.

He said that according to the World Bank 2018 Report on migration and remittances, Ugandans from the Diaspora globally remitted US$ 1.4 billion in 2017 with a decline to US$ 1.3 billion in 2018.

“But these funds translate to about 5% of Uganda’s gross domestic product US$ 27.9 billion as announced in last financial year’s Budget Speech,”

“This goes to how important Diaspora remittances are and UIA’s aim is to assist in channeling these into an investment that should provide the remitters with high returns for their savings or money sent home,”

He added that it is important to note that most of the money sent from Ugandans in the Diaspora goes directly into the households, thereby improving the population’s welfare and providing for cheaper funds to invest in productive activity.

“Over years since 2004, we have witnessed Diaspora investment in varied sectors including agro-processing, real estate development, renewable energy, commercial agriculture and services like education and health,”.

Mr. Byensi explained that it has been a joint effort with a number of stakeholders to promote and facilitate investment and UIA is grateful for the partnerships that have yielded positive results.

He pointed out that together with the Ministry of Foreign Affairs, UNDP, Ministry of Internal Affairs, Bank of Uganda, Uganda Revenue Authority and many other stakeholders, UIA has participated in the development of the National Diaspora Policy, development of the Diaspora Bond and the Compendium on Business and Investment Opportunities which was published and disseminated.

The compendium is due for review considering the many other investment opportunities that have come up in new sectors like oil and gas, fintech and other innovative opportunities.

Comments

Tags: UIA

Related Posts

Uganda Investment Authority new strategic plan in the offing (PHOTO/File)
BUSINESS

Uganda Investment Authority new strategic plan in the offing

February 28, 2020
309
The Presidential Investors Round Table is used as a vehicle for Public Private Dialogue. It acts a business – government coordination mechanism (PHOTO/File)
BUSINESS

Presidential investor round table set for March 2020

February 28, 2020
200
An ARCH-IDC delegation led by Jared Irving, ARCH’s Managing Director for Africa, and Tony Kuna, IDC’s Project Development Manager, have today held a roundtable discussion with officials from Uganda Investment Authority (UIA), Uganda National Oil Company (UNOC), Ministry of Agriculture, Animal Industry and Fisheries (MAAIF) and Uganda Agribusiness Alliance (PHOTO/PML Daily)
BUSINESS

London-based equity firm to invest in cold chain solutions in Uganda

February 21, 2020
565
Museveni recently commissioned the 132KV power station that will supply the industrial park (PHOTO/PPU)
BUSINESS

UIA urges local investors to tap into industrial parks

December 28, 2019
275
Mr Byensi said both events will be held at Serena Hotel in Kampala (PHOTO/File)
BUSINESS

All set for diaspora events in Kampala

December 23, 2019
209
BUSINESS

UIA, Botswana to sign memorandum of understanding

December 2, 2019
1.1k






 

 

About

The PML Daily, published via www.pmldaily.com is a publication of Post Media Ltd, a professional Digital/New Media company in Uganda.

Follow us

KIU

  • EDITORIAL POLICY
  • ABOUT US

© 2020 PMLDAILY.COM

No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines

© 2020 PMLDAILY.COM

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In