On the 2nd Bi-Annual Private Sector CEOs’ Forum, His Excellency the President of Uganda Yoweri K. T Museveni, joined by the First Lady Mama Janet Museveni.
His Excellency did welcome all the delegates at his Country Home, Irenga in Ntungamo District for the second bi-annual Private Sector CEOs’ Forum.

In summary His Excellency the President made the following remarks
    H.E re-echoed the PCF Secretariat Mission as key in speaking to elimination of bottlenecks to Economic Development. This is helpful to Government and considered as free consultancy.
    H.E acknowledges the Bi-annual meetings by the Private Sector as a great procedure providing free research services for key action points by Government.
    H.E pledged to the appoint a representative for Private Sector to Cabinet, awaiting the nomination by the PCF Board.
    Further noted the relevance of collaboration between the PCF, OPM, MDAs as this provides a new way of speaking to the issues presented by the Private Sector and he instructed MFPED and MTIC to work with the PCF closely at all fronts so as to address key issues.
    Emphasized the need for the Private Sector should embrace the PDM and ensure processing and Value addition on what is produced by households under PDM on the off take basis. PDM prioritizes Seven High Value Enterprises that support intensive agriculture and these are: Coffee, Fruits (Oranges, Mangoes, Pineapples, Apples, Grapes and Berries), Pasture for Dairy Cattle, Food Crops (Bananas and Cassava), Poultry for Eggs, Piggery and Fish Farming.
PDM aims at converting by standards, people who practice agriculture with calculation for more value through increased production. This production in Agriculture shall be increased through use of irrigation and use of fertilizers through Public Private Partnerships.
    H.E emphasized how promotion of Products with high value to markets such as the DRC, which is a huge potential to absorb Ugandan products.
    He noted how government is committed to work with the private sector and in agreement with proposals such as Traders under KACITA would become ambassadors to promote and market Ugandan products other than importing thus play a role in the national goal towards import substitution versus export promotion.

The Presentations focused on the following aspects:
i.    Final Investment Decision (FID) for the Oil and Gas Subsector: Opportunities for the Private Sector
ii.    Innovative financing mechanisms; Private Equity/Capital – a Position Paper
iii.    Opportunities in the New Markets, such as the DRC, South Sudan, 

From different remarks and presentations, the following resolutions were made.
1.    Uganda establishes an Export Insurance Credit Guarantee Fund: This Fund is meant to manage risks related to insecurity and perceived insecurity that deter the Private Sector from exporting to high-risk new Markets such as DRC, South Sudan, among others.

2.    Uganda invests in Transport Infrastructure Development; (a). Road infrastructure: Construct Toll Road Networks into the DRC to reduce the Cost of Doing Business and increase timely market access, (b). Air Cargo Services: Uganda Airlines and Uganda Air Cargo to invest in buying Planes for Trade Facilitation, (c). Railway: Build the Standard Gauge Railway (SGR) to transport Goods and services at reduced costs, (d). Water: Build Bridges and invest in bigger Water Vessels along River Congo Basin.
3.    Uganda invests in Information Communication and Technology (ICT) Infrastructure Development; (a). Telecommunication infrastructure: Investment in Uganda Telecom Limited (UTL) so as to extend Services to the New Markets of DRC, South Sudan, among others, (b). Enhance capacity of Uganda Broadcasting Corporation (UBC): Invest in broadcasting infrastructure such as masts so as the serve the underserved new Market areas, among others.
4.    UMEME reduces Electricity Tariffs. In order to enhance Value Addition and processing for Small and Medium Enterprises (SMEs), there is need to reduce on the cost of electricity (cheap power is a requisite to growth).
5.    Priority should be on building capacity through Government Programs such as; Operation Wealth Creation (OWC) and the Parish Development Model (PDM) in order to increase aggregate demand and domestic consumption.
6.    Reforms should be made in Government owned Banks; Post Bank, Housing Finance, Pride Micro Finance, so that they can support businesses operating in the new Markets within the region as the Commercial Bank of Kenya.
7.    There is need to protect locally produced goods against subsidized Imports. Work with Kampala City Traders Association (KACITA) and other Trading Groups to focus on promoting, selling and distributing Ugandan Products across African Markets and beyond.
8.    There is need for capacity building for Local Content in the Oil and Gas Subsector. Government will support intending players in the Oil and Gas Subsector through funding to build Capacity as well as encourage Joint Ventures to tap into foreign Expertise and close any Technical Gaps.
9.    Government remains committed and ensures that there is Cheap Financing for Private Sector Development (PSD) to the Business Community. The Government is to put more money in Uganda Development Bank (UDB), reduce the Cost of finance and ensure that the Private Sector can easily access available credit.
10.    Government reviews possibilities for eliminating Withholding Tax on Private capital funds (equity & debt) and reduction of the capital gains tax from the present 30%, for instance Kenya’s Capital Gains Tax stands at only 5%.

1.    Establish Export Insurance Credit Guarantee Fund.  
2.    Invest in Transport and ICT Infrastructure (Build Toll Roads, Air Cargo, UTL and UBC).
3.    Reduce Electricity Tariffs so as the Business Community accesses Cheap Power for their operations.
4.    Capacity Building for Internal Markets.
5.    Build Capacity of Government owned Banks to support businesses in the new Markets such as DRC.
6.    Promote and protect Locally produced products against cheaper subsidized imports.  
7.    Capacity Building for Local Content in the Oil and Gas Subsector and ensuring linkages with other Sectors.
8.    Cheap financing for Private Sector.
9.    Review Taxation framework on Private Equity Funds.
10.    Tax Imports so as to encourage Import substitution and Export promotion