Dorothy Nakaweesi
7 November 2008
Kampala — Businessmen investing in Uganda are bracing themselves for recognition at the forthcoming investor of the year award where they will have to convince a panel of judges of their contributions in the country.
This would be in January next year at the 15th annual event at Hotel Africana where President Yoweri Museveni is expected to officiate.
Under the theme, "Corporate Social Responsibility", the winners will be selected depending on how much a company has invested in the country, jobs created, exports earnings, valued addition, and multipliers effect in form of business leakages. The criteria will also include training, improved technology, use of local raw materials, location of project and its contribution towards environment protection.
The Executive Director of Uganda Investment Authority, Dr Maggie Kigozi, said the awards seek to encourage investors to be more efficient, creative and competitive. "Investors who excel are recognised internationally and can use their accolades as a marketing tool and benchmark their contribution towards the development of the economy," she said.
Dr Kigozi said only companies which have been licensed to start business and those that have expanded their businesses between November 2007 and October 31, 2008 are eligible to participate in the competition. Between this period, UIA licensed 314 projects with planned investment worth $2.2billion (Shs4trillion), and close to 60,500 planned jobs. Electricity, gas and water, manufacturing and transport and communication were the lead sectors in terms of value.
A panel of reputable judges from the Uganda Export Promotion Board , Federation of Uganda Employers, Uganda Revenue Authority, National Environment Management Authority, Private Sector Foundation Uganda, Uganda National Council of Science and Technology and Uganda Journalist Association will preside over the competition.
"We want to encourage as many investors to take their projects up country, this will create jobs and develop these areas, fight poverty and this will also hinder people from flocking to urban areas," Dr Kigozi said.
Last year, the Quality Chemicals Company won the gold award while The New Forest Company and Wagagai, came first and second runners ups respectively.
Be the first to Write a Comment!
Copyright © 2008 The Monitor. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
