David Muwanga
1 December 2008
Kampala — UGANDA could be among the countries to be highly affected by the global financial crisis, the Swedish ambassador to Uganda, Anders Johnson, has warned.
"Uganda's economy could be affected in terms of falling export earnings and remittances from the Diaspora due to the economic recession that has hit the world," he said on Wednesday.
"However, I believe Uganda has got competent professionals who can advise the Government in case that situation arises," he said.
The ambassador was opening a half-day workshop for a 13-man business delegation from Sweden at the Kampala Serena Hotel.
He, however, said Uganda's economic growth was on track, adding that it was the reason the Swedish businesspeople wanted to invest in the country.
"This is evidenced by the recent budgetary proposals that the country will reduce donor dependency from 50 to 30%." Johnson urged the Swedish businesspeople to explore Uganda's potential, saying this would result in increased investment and trade between the two countries.
He pledged his government's continued support in the areas of HIV/AIDS, primary health care, private sector development and trade, peace, democracy and human rights.
"We are already supporting Makerere University to build capacity for research.
"We are going to spread the same programme to other universities," he said.
Dr. Maggie Kigozi, the Uganda Investment Authority (UIA) executive director, explained to the investors the procedures of approving projects.
"You have to register with the Uganda Registration Services Bureau."
Dr. Kigozi said those interested in sectors like energy, mining, fishing and financial services, are required to get a secondary licence from UIA.
"After completing all these the authority issues a license and you carry out an environmental impact assessment study," she said.
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