Politics

Kadaga: Investments Must Benefit Local People

Kadaga_meeting_activists_recently_800157172

erectile http://concernedafricascholars.org/wp-admin/includes/class-wp-comments-list-table.php geneva; color: #222222;”>She says Uganda would need to borrow a leaf from other states that have in place strict guidelines on the employment of locals by foreign companies.

Header advertisement

more about geneva; color: #222222;”>

Speaker Kadaga who received a petition from Civil Society Organisations that want Parliament’s active involvement in formulating trade partnership agreements expressed concern that the local population rarely benefits from foreign investments.

“We should copy from Egypt and Ethiopia where foreign companies are tasked to employ a set of local workers for every single foreign worker employed in their firms,” she noted recently.

The Speaker said a guide for investors would also help streamline what direct benefits the local population would draw from projects in their area.

The Civil Society Activists who petitioned Parliament April 30,requested for Parliament’s urgent intervention into the ongoing regional investment Partnership (TIPA)negotiations between the East African Community partner States and the United States.

Ambassador Nathan Irumba the Executive Director of Southern and East African Trade Information and Negotiations Institute (SEATINI) Uganda led the CSOs in raising a red flag over the negotiations.

He warned that the current template for the US regional investments treaty only promotes the interests of the United States and Uganda risks signing an unfair treaty.

“We have noted with concern that Uganda investment code is still work in progress and that the EAC does not have in place a joint investment policy to use as a basis to advance EAC interests during the negotiations,” Ambassador Irumba warned.

He confirmed to the Speaker that the treaty template is tailored to protect the rights of US investors without addressing the obligations and the rights of the EAC countries.

CSOs are also concerned that Parliament as the representatives of the people have not been consulted on the ongoing negotiations.

CSOs have now called for Parliament’s intervention to scrutinise all trade and investment partnership agreements ahead of their ratification.

Comments

Header advertisement
To Top