Housing Finance Bank together with the Parliamentary Forum on Labor, Decent Employment, and Productivity and the Bank of Uganda, this morning facilitated a Breakfast Meeting on enhancing Foreign Direct Investments (FDI) into the country.
The meeting, held at the at Serena Hotel, Kigo under the theme “Foreign Direct Investment in Uganda: An Untapped Opportunity for Economic Recovery,” was aimed at identifying untapped opportunities for the Ugandan economy to recover through foreign direct investment.
“Today, we are discussing our potential and the opportunities that we can exploit. We know that from foreign direct investment, we can push our country for the next decade,” said Laban Musinguzi the National Coordinator for Parliamentary Forum on Labor, Decent Employment, and Productivity.
bor export, government securities, real estate, and a conducive investment environment were among the critical points raised to encourage Ugandans abroad to invest back home.
Speaking at the event, Arnold Bagubwagye, Director Financial Market Bank of Uganda proposed incentives to attract the diaspora to invest in Uganda.
“We need to set up a task force to package these proposals nicely and carry out sensitization informing people that there is a framework in place.” he said.
On her part, Peace K. Ayebazibwe, the Executive Director of Housing Finance Bank shared some initiatives undertaken by the Bank to encourage foreign direct investment from Ugandans living abroad while still improving the livelihoods of the people at home.
“We have simplified the process of investing in treasury bills and bonds as well as real estate for customers in the diaspora. These are just a few of the areas where we support our customers. Additionally, we have built over 500 houses for people who are working as Boda Boda riders and taxi drivers with our Zimba Mpola Mpola Incremental loans. We launched this product at one of the homes of the Boda riders.” She said.