UIA wins global award for attracting investments into Uganda 

Uganda Investment Authority (UIA) has bagged the prestigious Go Global Awards for its distinguished efforts in making Uganda the number one investment destination in Africa. 

UIA director general, Robert Mukiza received the news of the award, which has enhanced the country’s investment outlook, from Nina Escarda, senior trade commissioner of the International Trade Council (ITC).

“We are thrilled to inform you that your agency is among the recipients of this year’s award. Congratulations on your remarkable achievement,” Escarda said, in a notification to the authority last week. 

The Go Global Awards assessment each year involves more than 680 investment promotion agencies, including ITC member agencies and non-members who participated in ITC-sponsored events. The rigorous evaluation is conducted by a team of world commerce and economics experts’ committee, which includes Senator David Wells, Viscount Lord Waverley, Ambassador Sven Jurgensoon, Hon Iain Evans, Hon Charles Mok, Ranjani Rangan, and a group of economic development agencies. 

Mukiza attributed the development to the commitment of his agency to reduce the cost of doing business in Uganda and generally facilitate investment. 

“The award is a testimony of our unwavering efforts to promote and attract investment into Uganda, making our country the third most rewarding economy to invest in on the whole continent of Africa,” Mukiza said. 

Adding “The security of a person and property, liberal economic regime and the president’s dedication to ensuring access to the markets of the East African Community, the Common Market for Eastern and Southern Arica, the African Continental Free Trade Area as well as the European Union, China, and others, make Uganda a very profitable investment destination.”

UIA board chairman, Morrison Rwakakamba, said the award represents the implementation of favourable investment policies such as a reduction in the cost of doing business by the government. He said such “correct” policies have engendered a safe, stable, and predictable environment for investors to make medium and long-term investment decisions.

The Go Global Awards ceremony, held concurrently with the business awards presentation, is a collaborative effort between the International Trade Council and the International Centre for Trade Transparency. Rhode Island Commerce Corporation hosted the event this year, with last year’s event hosted by Enterprise Estonia (both government FDI agencies).

More than 500 companies across 83 countries, alongside 46 government economic development agencies participated in the prestigious award. 

nangonzi@observer.ug