Museveni assures foreign investors of 10 year tax holiday as he meets Sweden trade minister

President Museveni on Monday met a delegation from Sweden lead by Benjamin Dousa, Sweden’s Minister for International Development Cooperation and Foreign Trade, to State House today.

The main reason was to seek ways to enhance trade and investment between Sweden and Uganda.

Museveni assured investors of Uganda’s unlimited investment and trade opportunities assuring them of a ten year tax holiday and pledging to bring down the cost of power to the lowest cost possible of 0.05 dollars per hour for the manufacturing industries.

He also hinted at improving the transport system especially through reviving the railway.

“Our investment code in Uganda is robust; we offer a tax holiday of 10 years, and we are working hard to enhance electricity production to bring the cost down to no more than US$0.05 per kilowatt-hour for manufacturing. We are also focusing on other enablers, such as the railway.”

He asked foreign investors form Europe to identify areas of strength and do investment in Uganda.

“I, therefore, welcome Europeans to partner with Africa, Uganda, and Sweden in particular, to identify and implement areas of economic cooperation, trade, and investment.”