The government will soon unveil the Uganda Business Facilitation Centre (UBFC) on Plot 1 Baskerville Avenue in Kololo, Kampala, and the facility will house three government agencies, that is, Uganda Investment Authority (UIA), the Uganda Registration Services Bureau (URSB) and the Capital Markets Authority (CMA).
According to the UIA Board Chairman Dr. Emely Kugonza, the move is aimed at boosting service provision.
“These government agencies are being brought under one roof in order to boost service provision by enabling them to become more effective in serving both local and foreign investors with an overall objective of improving service delivery to the business community,” the chairman said.
Kugonza made the remarks during a guided tour of the facility by the Board Members.
The construction of the facility was launched on February 1, 2018, and the project is being undertaken by China National Engineering Technology Corporation under a $3m World Bank funding facility.
Officials say completion of the new facility will enable Uganda improve its ranking as a suitable country for doing business.
“Ultimately, these actions are expected to improve Uganda’s ranking in the ease of doing business which according to the World Bank’s Doing Business 2020 report, the country is ranked in position 12 in Sub-Saharan Africa behind top performers like Mauritius, Rwanda, Kenya, South Africa and Zambia respectively,” said Kugonza.
The UIA Board chairman noted that Uganda is ranked 116 globally way below its neighbors Rwanda and Kenya ranked 38 and 56 respectively.
In East Africa, Rwanda and Kenya are the best performers, followed by Uganda.
Others are paying axes, trading across borders, enforcing contracts and resolving insolvency.
The UBFC is being undertaken under the Competitiveness and Enterprise Development Project (CEDP), as a Government of Uganda project funded by the World Bank and coordinated by the Private Sector Foundation.