Kampala — Democratic Party (DP) president John Ssebaana Kizito has asked the Government to regulate foreign investors to avoid those who exploit Ugandans.

Addressing journalists at the party's headquarters in Kampala yesterday, Ssebaana accused foreigners of repatriating profits and changing their names after enjoying tax holidays. This was in response to media reports that President Yoweri Museveni had warned the media against sabotaging investment by maligning investors.

"I appeal to the President to look at foreign investment as something to benefit the country and not a conduit to take away resources and profits from Uganda," Ssebaana said. "Otherwise, many will come and milk our resources like it was in the fishing industry. They came and over-fished in Lake Victoria; now we have no more fish and the money is not seen because it was all taken away."

He called for a law that compels foreign investors to re-invest part of their profits for the development of the country. He also urged that foreigners only be allowed to do the kind of business Ugandans cannot do.

Ssebaana also called for shares of foreign companies to be floated in the stock market for Ugandans to have a stake in them.