Investors planning to set up businesses 50 kilometres outside Kampala city are set to eat big as government plans to reduce carbon emissions and decongest the city, Business Focus reveals.
In the 2017/18 National Budget, government plans giving investors free land and tax holidays as it aims at achieving a balanced development.
Business Focus has learnt that these incentives will not only be applicable this coming financial year, but government is in final stages of drafting a law to support investments outside Kampala.
However, if the proposal is adopted by the legislators, government will lose an estimated Shs33.20bn in tax revenue in 2017/18 alone.
Will this attract more local and foreign investors?