The State Minister of Finance for Investment and Privatization, Evelyn Anite, has refuted talks of the ministry favoring foreign investors and leaving local investors without privileges.

The minister made these statements during the Investors Barraza that took place at Namanve Industrial and Business Park.

The Minister stated that, contrary to common assumptions, the majority of investors in Namanve Industrial Park (60%) are local investors.

“There is a perception that Namanve Park is full of foreign investors. However, we’re happy that we’ve got more local and domestic investors in Namanve,” Anite said.

The minister also told the investors not to pay anything to anyone in Namanve as a bribe for anything, adding that they are taking measures to punish those involved in asking for bribes.

“My interest is in goods, services, jobs, and taxes. Don’t pay a bribe to anyone. We are currently in the process of revising the investment code with the aim of streamlining investment procedures, safeguarding investor interests, and implementing stringent measures to deter and penalize any intermediaries or middlemen engaging in illicit activities,” she added.

The Uganda Investment Authority, together with the Anti-Corruption Unit and the State House Investors Protection Unit, organized the Barraza with the purpose of having an open dialogue and collaboration with the investors to boost investor confidence.