Value addition the magic bullet to changing domestic investment

The State Minister of Finance for Investment and Privatisation, Evelyn Anite, has tasked domestic investors in Uganda to engage more in the Value addition sectors like manufacturing to help increase product value, enhanced productivity and competitive edge.

This as she launched the Uganda Investment Authority Domestic Investment Division in Kampala.

Uganda’s Domestic Investment continues grow with a lot of promise and ranks high among her EAC peers but despite this promise, the sector still grapples with inadequate access to affordable long-term business credit to finance their ventures across board.

Speaking during the unveil of the Domestic Investment Division in Kampala officials say this will help initiative will pool ready and profiled domestic investors to work with international government but majorly support SMES who are majorly domestic entrepreneurs.

Anite believes value addition is the magic bullet to championing and improving the Domestic Investment environment in Uganda.

“When we export beans in form of seeds, we are exporting employment to those countries we are exporting to, but if we embrace the value addition method, we shall improve our domestic environment,” he said.

While this acts as green light for domestic investors, some are still not comfortable with the minimum investment capital of 50,000 USD saying this could be a major impediment to enjoying the tax incentives to do business.