President assures investors of lower electricity charges for industry

Friday 27th June 2014

President Yoweri Museveni has assured investors in Uganda that the NRM government is working hard to make sure they get cheap and competitive electricity and transport, especially roads and railway transportation saying this will lower the cost of doing business in the country.

He was today speaking during the Uganda Responsible Investment Awards (URI 2014) event that was organized at the Imperial Royale Hotel in Kampala.

The President, who was awarded the most inspiring, admired and patriotic political investor of Uganda since Independence identified such sectors as security, prosperity, infrastructure, skilled and healthy labour force and entrepreneurial skills promotion as being key among others that have been emphasized as the most crucial in a modern society.

He said that the NRM government has managed to work on issues of market integration.

He gave the example of the East African Community (EAC) and the Common Market for Eastern and Southern Africa (COMESA) adding that the aim now is for market integration of the whole of the African continent.

He noted that the embracing of regional economic groupings have no doubt helped Uganda in particular and other member countries have bargaining power internationally.

The President commended the organizers of the Uganda Responsible Investment Awards Event for the good work they are doing in identifying the best performers saying that this will encourage others to do the same.

He encouraged more investors especially in the area of processing, to come to Uganda and participate in the efforts of Ugandans to transform the country.

Prime Minister, Mr. Amama Mbabazi commended the organizers for their efforts. He noted that the initiative will encourage more investment and facilitate social economic transformation in the country.

Numerous individuals and companies received a diversity of awards for their contributions to the development of Uganda.

They included Uganda People's Defence Forces (UPDF) who were cited for being the best government institution of the year, the Bank of Baroda which scooped the best financing institution of the year, the Uganda National Roads Authority, Mega Industries, Bemuga Clearing and Forwarding Company, among others.

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