{UAH} Emmanuel Tumusiime-Mutebile: Enhancing an enabling environment for the diaspora to invest beyond remittances in Uganda's social-economic transformation

Brian,

 

In any progressive economic setting the central government's important role is always to encourage or stimulate growth and development. Stimulating growth using targeted incentives whether it's for harnessing participation by diaspora investors or direct foreign investors is always a powerful tool which any country can't afford to overlook. 

 

Incentives can always be adjusted on an ongoing basis via good legislation. It's thus very crucial for the government to do everything to engage diaspora investors. Since diaspora investors already have limitless investment opportunities at their disposal across the globe, it's helpful for the host to dole out targeted incentives to constructively engage them. Recently that's exactly what the state of Nevada had to do in order to land the Tesla GigaFactory by one of Africa's best industrialist. From South Africa to the United States the lobbying for the factory was very intense. This duel was finally won by the state of Nevada which gave the best incentives. The net result for Silver state of Nevada will be over 22,000 livable/good paying jobs and the addition of 4% to the local GDP.

 

It's in Uganda's best interest avail to constructive incentives to investors simulate growth and production. Targeted incentives to the diaspora is definitely welcomed and will handsomely payoff for Uganda. The ultimate incentive package will always include but won't just be limited to transparency and good governance.

 

Hudson 

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From: 'Brian Kwesiga' via Ugandans at Heart (UAH) Community <ugandans-at-heart@googlegroups.com>
To: UNAALIST Unaalist <unaalist@unaa.memberclicks.net>
Sent: Sunday, March 8, 2015 10:06 AM
Subject: {UAH} Emmanuel Tumusiime-Mutebile: Enhancing an enabling environment for the diaspora to invest beyond remittances in Uganda's social-economic transformation

In my view, if Uganda was to take the route of directly stimulating Diaspora investment (including issuing of Diaspora Bonds), it must give serious thought and consideration to Diaspora status issues. 

For example, will Diaspora investors or entrepreneurs be entitled to special economic incentives and benefits that are not available to non-Diaspora? Whereas this may help incentivize some Diaspora to make economic commitments in Uganda, these types of investment policies are often hard to undo once rendered. 

What will the legal status of Diaspora be relative to their resident counterparts? How will their interests be represented formally and informally within the Uganda political system? 

I strongly believe that creating too great a privileged status for Diaspora relative to local citizens ultimately may flop in terms of promoting Diaspora investment and entrepreneurship, because such favouritism may breed mistrust, resentment and even contempt among local citizens for Diaspora investors and entrepreneurs. 

In conclusion, Ugandan Diaspora is a crucial actor for economic development. Development is about expanding the choices of the poor and vulnerable and the Ugandan Diaspora has contributed to this. The potential for even greater contributions is, nevertheless, immense. 

Better tuned government policies and cooperation can make the difference. The main task is to make the Ugandan Diaspora true partners for development in both countries of origin and of residence. 

Thank you for your kind attention.

http://www.bis.org/review/r140116d.htm

Brian M. Kwesiga

President and CEO,

Ugandan North American Association - UNAA

972.415.6372 | www.unaa.org | "United We Stand"

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