Compendium of Investment and Business Opportunities for the Ugandan Diaspora launched
Kampala - A compendium of Investment and business opportunities has been launched for the Ugandans in the Diaspora.
The compendium, an easy to follow guide on business ideas is a combined effort of Uganda Investment Authority (UIA) and Ministry of Foreign Affairs with support for the United Nations Development Programme (UNDP).
“This compendium highlights business ideas from various sectors which can be started with as little as 2000USD or more,” the Minister of State for Foreign Affairs Hon. Okello Oryem said while launching the compendium in Kampala. He further said that the compendium which covers various sectors was intended to attract all groups of Ugandan income earners in the Diaspora, an important source of income for the country with their remittances going up to $879.4m in the financial year 2011/2012 alone, to be able to invest back home .
“This Investment Compendium will ensure that Ugandans in the Diaspora are aware of the opportunities that exist in Uganda for high value investment, the process of undertaking such investment and their contribution to the attainment of the Goals of Vision 2040 of transforming the Uganda into a middle-income country in the next 15 years,’’ UNDP’s Country Director a.i, Almaz Gebru said at the launch. She added that UNDP was happy to support the Ministry of Foreign affairs in developing the necessary institutional frameworks that can support effective Diaspora investment engagement in its national development planning.
UIA’s Executive Director, Eng. Frank Ssebowa, said that putting together the two volume compendium covering 16 sectors was part of the Authority’s goal to help Ugandans in the Diaspora not only with business ideas but also to be part of making Uganda a major investment hub.
UNDP’s support is part of its Capacity Building for Strengthening Diaspora Resource Mobilisation and Utilisation under which it is working with the Ministry of Foreign Affairs on a Diaspora policy, set up of the Diaspora bond together with Bank of Uganda to encourage more Diaspora investment and a Management Information System (MIS) which will provide necessary platform to sell the bonds as well enabling the disseminating and sharing of information.