Uganda Business News: Government urged to retain some sectors for Ugandan investors

The government has been called upon to review its foreign investment policies with a view of leaving some sectors for local investors only.
Prof. Esther Kibuuka from the University of South Africa says protecting local industries is vital in the economic development of the country.

She says that the government should not open everything to foreign investors, as this might leave many Ugandans with no businesses to engage in.

Prof. Kibuuka who was speaking in Kampala today said some sectors like eggs, sugar, water and other goods easy for Ugandans to supply should be ring fenced for Ugandans investors, while foreign investors are encouraged to invest in more complex activities.

The government has however been insisting on complete liberalisation to ensure adequate competition that will see better goods and services in the Ugandan market.

Prof. Kibuuka however says Ugandan companies offering such goods should instead be supported to supply the products and services to good standards.