The Prime Minister, Dr. Ruhakana Rugunda
 Uganda wants serious investors - Rugunda According to statement issued by his office, the Prime Minister started the trip in Mumbai, the commercial capital of India, meeting several investors interested in establishing factories and businesses in Uganda.Dr Rugunda said: "We are here to attract serious investors who can process and add value to our products to enable us create the much needed jobs for our people and boost our export earnings through producing for the export market.” Rugunda added that attracting investments in priority sectors such as agriculture and agroprocessing, tourism, ICT, housing and medical services, is most sure way to boost the economy.The conclave will be opened by the President of India, Pranab Mukherjee. The forum has become a prestigious event for Indian and African governments and industry to meet and explore new avenues of partnerships. The annual gathering enables the Indian and African leadership to take stock of the progress of the partnership.The Prime Minister's delegation includes business people and manufacturers, private sector foundation, as well as officials from ministry of trade, investment and Uganda Investment Authority. Read more ▪ Treasury directed to pay govt debts - Rugunda Prime Minister Ruhakana Rugunda said the Treasury had been instructed to ensure it pays the debts owed to government agencies and service providers that offered services to government but have never been paid.Responding to a question from Soroti Municipality MP Edmond Ariko, during the Prime Minister's Question Time, Dr Rugunda said the instruction was made to ensure that those who offer services to government get their due and don't run out of business.Mr Ariko had asked Dr Rugunda what steps government is taking to clear a Shs9.2 billion debt owed to National Environment Management Authority (Nema). Quoting the latest Auditor General's report, the legislator said NEMA gave services to a number of government agencies but has never been paid. Read more ▪ Rugunda pleased Wwith locally manufactured building materials Prime Minister Dr. Ruhakana Rugunda has applauded the local building manufacturers for producing high quality materials which has encouraged most of the construction companies to prefer them to imported materials.While presiding over the launch of the Knight Frank Wealth Report, Dr. Rugunda was pleased to note the increasing competition in the real estate sector.The Knight Frank Wealth Report indicated that the residential sector in Uganda is one of those areas that still demand attention by property developers.The Premier further stated that with the population of the country continuing to grow, especially in urban centers, the need for quality and affordable housing remains a challenge and an opportunity the real estate industry should address and meet.Over the past decade Knight Frank’s Wealth Report has provided a unique perspective on the interaction between wealth and the world’s prime property markets.Read more ▪ Prime Minister Ruhakana Rugunda: Shs13 Billion Kabale Roadworks Begin Prime Minister Ruhakana Rugunda has cautioned contractors not to delay completion of government projects, especially in the road sector.Dr Rugunda, who was presiding over a ground-breaking ceremony for the construction and tarmacking of three feeder roads in Kabale Municipality, said delayed government projects not only increase the cost of such projects but also delay delivery of services to the people who need them.The two-kilometre road network, which includes Nyerere Road and Nyerere and Kigongi avenues in Kabale Municipality, will be constructed by Stones Construction Company and is expected to be completed in 12 months. It will cost Shs13b.Mr Lauben Ntengyerize, the Kabale District deputy town clerk, said Kabele is among the 14 selected municipalities that benefited from the Uganda Support to Municipal Infrastructure Development project funded by the World Bank. Read more ▪ Prime Minister Ruhakana Rugunda:Government unveils Shs53b women entrepreneurship programme Government has unveiled Shs53b women entrepreneurship programme (UWEP) aimed at increasing women’s competitive edge in the business sector.Unveiling the programme in Kampala, Prime Minister Ruhakana Rugunda said the project will support women in the micro, small and medium enterprise subsector through provision of interest-free credit, technical advice for appropriate technologies, value addition and market information.The funds, to be rollout in the next financial year, will also be accessed through the women groups ranging from 10 to 15 memberships, with the major focus on unemployed women and vulnerable groups such as single young mothers, widows, disabled, women living with HIV/Aids and slum dwellers. “Although women comprise 53 per cent of Uganda’s labour force, 42 per cent are taken on as unpaid family workers. In addition, the male to female wage gap stands at about 39 per cent. This gap in productivity is of meaningful concern both to GDP growth and to the distribution of income between men and women.” Dr Rugunda said. Read more ▪ PM Rukakana Rugunda: Guarantee LDCs more trade freedom, Uganda tells WTO Uganda wants the World Trade Organisation (WTO) meeting in Nairobi to conclude negotiations on key trade issues that have dragged on the agenda.Among the issues delivered by Prime Minister Ruhakana Rugunda, Uganda wants the Doha negotiations, also referred to as the development agenda, which was launched in Doha, Qatar, at the WTO’s 4th ministerial conference to be concluded.The Doha Round focuses on issues affecting the Least Developed Countries (LDCs) such as agricultural reforms, particularly reductions in subsidies, market access, special treatment of poor countries and matters of trade facilitation.According to the Prime Minister, the dragging on of the Doha negotiations has denied LDCs that include Uganda, a chance to benefit from the opportunities abound in global trade—the multi-lateral trading system. Read more ▪ Rugunda commissions construction of condominium apartments in Wakiso The Prime Minister Dr Ruhakana Rugunda has launched the construction of Jakana Heights luxury Condominium apartments on top of Konge hill in Buziga, Wakiso District.During the ground breaking ceremony, Dr Rugunda said the investment was timely because the country needs many quality housing units.Dr Rugunda applauded Jakana Heights Condominium property investors from United Kingdom for choosing to invest in Uganda.He said Government takes the housing sector seriously because it has a major multiplier effect in the economy of the country.Dr Rugunda said Government had created an enabling environment for both local and international investors.“Government on its part has created an environment of liberal investment climate, with 100% repatriation of profits, and tax holidays, to encourage inflow of foreign direct investment,” said the Premier.Read more ▪ PM Rugunda set to officiate at regional business symposium Prime Minister Ruhakana Rugunda and Netherlands Ambassador to Uganda Alphons Hennekens will officiate at the regional symposium on ‘Scaling Social Business in East Africa’ at Sheraton Hotel in Kampala.The symposium seeks to provide a platform for addressing key development and insights regarding social entrepreneurship and impact investments in the region.Key sectors of the economy that will top the agenda include agriculture, which employs over 60 per cent of the labour force in the region, education and energy.“It will facilitate the sharing of practical examples and insights on the strong alignment between development objectives and business interests and identify examples of innovative collaborations from the region,” reads part a statement sent to this newspaper. Read more ▪ Prime Minister Dr Ruhakana Rugunda: Kabale SACCOs receive sh1 billion from govt Prime Minister Dr Ruhakana Rugunda has handed over cheques of One billion shillings from the Microfinance Support Centre Ltd to Savings and Credit Cooperative Organisations (SACCOs) in Kabale. Some of the beneficiaries included Lyamujungu cooperative financial services Ltd, Rukiga Savings and Credit Scheme and Buyanja Cooperative Savings and Credit Society Ltd who received 400 million, 350 million and 200 million shillings respectively. Delivering the cheques at White Horse Inn in Kabale, Rugunda said Government recognizes the importance of financing rural enterprises in enhancing productivity and the overall reduction of poverty.“On behalf of Government, I wish to pledge Government’s continued commitment in supporting the financial services sector and particularly Microfinance Support Centre Ltd (MSC) that has exhibited the competence and capacity to deliver on this program,” said the Premier. Read more ▪  PM Rugunda in Kigali for Transform Africa Summit Prime Minister Dr Ruhakana Rugunda is in Kigali, Rwanda to represent President Yoweri Museveni at the Transform Africa Summit. Rugunda was received on arrival at Kigali International Airport by Uganda’s High Commissioner to Rwanda, Ambassador Richard Kabonero and other officials. The theme of the summit is “Accelerating Digital Innovation” The Summit brings together over 2500 participants including heads of state from Smart Africa member states, members of UN Broadband Commission on Digital Innovation, top academics, policy makers and chief executive officers of leading technology companies. The summit aims at devising new ways to deliver on the Smart Africa promise of raising $300b in ICT investments in Africa. Read more ▪ PM: Govt to turn to financial markets for infrastructure funds - Rugunda Government will consider capital markets as a viable option where it can borrow money to finance its infrastructure projects, Prime Minister Ruhakana Rugunda has said.Rugunda told a meeting at Serena hotel in Kampala at the official launch of the automated Uganda Securities Exchange (USE) that "government would look into that seriously"."I encourage the private companies to come and raise cheap capital through capital markets either by listing or issuing corporate bonds," Rugunda said. "As government, we look forward to issuing long-term bonds to fund infrastructure projects." Read more ▪ Prime Minister, Dr Ruhakana Rugunda: How companies struggle to control markets The government expressed appreciation for Chinese support in helping develop infrastructure in the country and asked for more.In talks with Yang Jiechi, the State Councillor of the People's Republic of China, Prime Minister, Dr Ruhakana Rugunda said, "Uganda as country, we encourage China to boost financing of infrastructural development which is a major development obstacle in Uganda and most of sub-Saharan Africa, to unlock the country's and region's economic potential."Jiechi said, "China is committed towards supporting Uganda's development agenda. Our major task will be on striving to consolidate political economic and cultural promotion among the two countries. Read more ▪  PM: Human resources bill in offing, says Rugunda Government will soon table the Human Resources Professionals Bill in Parliament to regulate the human resource professional obligations in the country, says the Prime Minister, Dr Ruhakana Rugunda. Dr Rugunda said Government, through the ministry of Public Service, was ready to support the leadership of the Human Resource Managers’ Association of Uganda (HRMAU) to have a charter to regulate professional standards and HR conduct both in the private and public sectors.The premier made the remarks while presiding over the Human Resources Reveal Event, the first of its kind, at Kampala Serena Hotel.“I encourage the leadership of the association to work closely with government in the course of the deliberations on this Bill,” Dr Rugunda said before launching the inaugural Human Resource Excellence Awards.He said the National Development Plan highlighted the critical role of skills development in transforming the country into a modern and prosperous society. Read more ▪ Rugunda: Gov’t to lower power tariffs for big Industries Prime Minister, Dr Ruhakana Rugunda has said the government is considering preferential industrial electricity tariffs for big projects as a part of measures to attract more investments in the economy.President Museveni has repeatedly said high electricity rates continue to hurt Uganda’s economic growth prospects.Expensive electricity increases the cost of doing business, scaring potential investors whose capital would lead to job creation, increased tax revenues and general economic transformation of Uganda.Rugunda said the economy was growing modestly but if big industries were subjected to discounted tariffs, more would come up in industrial parks that the government is establishing countrywide.Dr Rugunda was meeting the Chinese Ambassador to Uganda, Zhao Yali, thanking the Chinese government for supporting capital-intensive development projects in the country. Read more ▪ PM: Rugunda urges accountants to help entrepreneurs The Prime Minister, Dr. Ruhakana Rugunda, has asked accountants to join the fight against corruption and aid growth of businesses by advising entrepreneurs on financial management and taxation.“Your work should make businesses more efficient. Healthy businesses are able to remit all due taxes which in turn funds government programmes,” Rugunda said.He also advised businesses to rely more on services of accountants to remain competitive. Rugunda was speaking at a clients’ appreciation dinner for accounting firm Grant Thornton, which donated sh25m to the Government for the fight against HIV/AIDS.Grant Thornton Uganda is part of a global group of independent assurance, tax and advisory firms operating in 120 countries with over 38500 employees. Its revenues hit $4b.A managing partner, Anil Patel commended its clients for helping the firm grow 25% in the last financial year. Patel also thanked the government for maintaining peace and stability in the country which has created an enabling environment for businesses to thrive. Read more ▪ |