The second edition of the UG Economic Forum has been launched, with focus on helping businesses grow in the post-Covid era and using agriculture as a key driver of the economy.
According to Next Media Deputy Chief Executive Officer, Joe Kigozi, the forum will focus on navigating and creating opportunities for investment.
At the peak of the Covid-19 pandemic, over 80 percent of businesses in Uganda were locked up and as the economy slowly emerged from the two-year economic downturn, majority were desperate for a financial shot in the arm to help them recapitalize.
“As NBSTv our focus is on driving awareness and also we should use agriculture as a key driver in the economy” Kigozi said.
Now, as experts gear up for the UG Economic Forum 2023 which is slated to run from August 28 to September 1, they say sustainable commercial agriculture and industrialisation will be key drivers to revive the economy.
The Assistant Commissioner, Public and Corporate Affairs at Uganda Revenue Authority, Ibrahim Bbosa says the taxman intends to narrow the informal sector gap so as to hit its whooping 30 trillion revenue target.
“We have a lot of people in the informal sector who don’t pay taxes, we need to bring those people on board so that can contribute to the economic growth ” Bbosa said
Meanwhile, the Director Investments at the Uganda Development Corporation, Andrew Mugerwa, called for concerted efforts by members to make these discussions practical if they are to contribute to revamping businesses that experienced shocks during the pandemic.
“We need to work together and help recapitalize businesses that experienced shocks and also provide a shot in the arm for them to get on their feet” Mugerwa said.
The UG Economic Forum is an annual convening event organised by NBS TV, and it brings together key stakeholders from government, business and civil society to discuss the main challenges and opportunities facing the business space within a given period.