Uganda, through its investment authority, won the gold award for attracting the best investment project in 2022 during the Annual Investment Meeting (AIM) 2023 in Abu Dhabi - a leading platform for investors in the world - where more than 170 countries participate in exhibitions and investments.
The Ugandan Ministry of Foreign Affairs, in a statement, hailed Uganda's prominent position as a key to attracting foreign direct investment, technology transfer and promoting the country's exports and tourism.
Evelyn Anite, Minister of State for Finance, in charge of Investment and Privatization tweeted: "Congratulations team, we did it for Uganda. It just means more factories and jobs for Uganda and Ugandans."
The Uganda Investment Authority (UIA), one of the agencies representing the country at the meeting, called the development a “huge victory”.
Uganda has recently stepped up its appeal to international investors, with President Museveni at the forefront of bringing together investors from around the world to invest in Uganda's pristine areas, such as the mineral and agricultural sectors.
Museveni created the State House Investor Protector Unit, as a means of protecting investors "from corrupt government officials who ask for bribes from potential investors and when those investors refuse to give bribes, they get frustrated".
The country's tax regime also tends to have special provisions for foreign investors, such as tax waivers and tax breaks for nearly a decade, while others are given free land to set up factories, as well as free amenities.
The Annual Investment Meeting is an initiative of the AIM Foundation, an independent international organization fully committed to strengthening the world economy by driving effective promotion strategies and facilitating opportunities for productivity and economic expansion.
