The Uganda Investment
Authority (UIA) is assessing the impact of the Coronavirus (COVID-19) on businesses. The assessment is aimed at justifying required economic interventions due to the virus.
Lawrence Byensi, the UIA Director
General, the assessment will be used to support policy
advocacy and investment services that will bring a better business environment
and recovery of impacted businesses.
Byensi in an interview with Uganda Radio Network (URN) says that although
it is obvious the COVID-19 lockdown has affected businesses, this assessment will provide credible data
that will help with interventions if any like stimulating business recovery and sustained
He says this will be done through a one month online survey which started this week and investment owners will be asked to fill a form on how their business has been affected.
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According to UIA, the
targeted businesses are those that are licensed with the authority and and have
invested in businesses but this does not include traders. Some of these include;
accommodation and food services, financial and insurance activities, agriculture,
mining and quarrying, electricity, gas, steam and air conditioning supply,
manufacturing, Education, health and construction among others.
Byensi says the main idea
is to get facts which can be used to make recommendations of what can be done since
COVID-19 has very serious implications on the economy.
He says at a higher level,
these are some of the things to be based on if any support to the economy is to
happen as the assessment will look at the total impact of the COVID-19 and
Byensi says over time they have been
profiling investors and this is the list they will go with. He says this will not leave out small medium
Enterprises who will be identified to participate as long as they have
In the assessment, UIA will look at the
measures adopted by the investment companies in the course of COVID-19,
contingency measures to ensure that the companies run even after the pandemic.
They will also ascertain how if the
businesses have the financial capacity to operate and for how long the
resources can last.
Following the COVID-19 pandemic, many parts of the world including Uganda is
in a lock down which has had an economic