The Uganda Tourism Board (UTB) Deputy Executive Director Bradford Ochieng has called upon Non-aligned Movement Summit delegates to invest in the Pearl of Africa.
Bradford made this comment during the East Africa Trade and Investment forum at Kampala Serena Hotel, a sideline event on the margins of the ongoing NAM summit as he positioned Uganda for deeper cooperation in trade, tourism and investment for shared global affluence.
He described Uganda as a hub full of opportunities for sustainable destination tourism, exploration and tourism investment.
“ Uganda has a unique landscape that encompasses the snow-capped Rwenzori Mountains, Lake Victoria – the largest fresh water body in the world, the western escarpments of the Great Rift Valley and it is home to the source of the Nile, which is the only river in the world that flows north. Uganda also has unique Flora and Fauna, a modified equatorial climate with warm temperatures all year round. Uganda is bordered by South Sudan in the north, Kenya in the east, the United Republic of Tanzania in the south, Rwanda in the southwest and the Democratic Republic of Congo in the west. This land linked position, gives Uganda a strategic commanding base for regional trade and investment.” Bradford revealed.
Bradford also highlighted the people in Uganda, being the most friendly and the most highly entrepreneurial community one can set to come across within the next decade.
He also underscored the economy which offers high returns on investment than most countries in the region, thus making Uganda a preferred investment destination.
According to the Uganda Investment Authority, Uganda has achieved an average GDP growth of 6.3% per annum for the last 30 years. Uganda’s GDP is forecast to grow by 6% p.a. from 2019-2023.
Bradford said, “Just look at the leisure industry alone, there vast opportunities in Marine Tourism-Entebbe, Jinja (Source of the Nile Project), Murchison, Dolwe Island, Sangobaby etc. We National Parks Concessions, Film Tourism, Health, Education/Academic facilities, Equator Zone – Kayabwe & Nfo Island, Cultural and culinary Tourism development, Sports arenas among others, and all these come with a lot of incentives.”
He also gave a breakdown on other incentives like Duty and tax free import on plant and machinery, Tax holidays (10 years) for Companies exporting 80% of production, Subsidized land to investors in the 4 priority sectors (ICT, Agro-processing, Tourism & Minerals processing) Exemption of taxes on Motor vehicles for transport of tourist.
“Look, the Initial Allowance on Hotel, hospital and Industrial buildings (20%), Stamp duty exemption on instruments for mobilising funds for tourism development, Materials exclusively not available in Uganda imported for construction of premises and required infrastructure (VAT, Excise duty & import duty), Hotel furnishings & fittings of high value (VAT, Import duty, excise duty, import duty, excise duty) we even Exempt the supply of movie production for films shoot in Uganda.” He implored the visiting community that was all besotted into the presentation.
During the Media launch recently, the chief organizer, Lucy Nakyobe said Uganda will also achieve both tangible and intangible benefits for her citizens.
“The returns on investment for these summits are many, both visible and invisible. We shall have a business forum as a die event which we hope to promote trade and manufacturing industry, investment promotion, tourism by selling our country to guests who will be here so they can influence others to come,” Nakyobe said.
She added that there is also socioeconomic benefit for our people.
“The visitors don’t just come but also spend, we shall therefore get some money from them. There is also social interaction, political benefit as a vote of confidence in our president and the country at large to be able to host the two summits but above all, they will increase visibility for Uganda.” She said.
