Uganda exempts tax on Turkish machinery imports

By Hamza Kyeyune

KAMPALA, Uganda (AA) - Uganda's government has announced that machinery imported from Turkiye will be exempted from tax.

The announcement was made by Evelyn Anite, Uganda’s minister of state for privatization and investment, at a summit in the capital Kampala presided over by President Yoweri Museveni.

Turkish Deputy Trade Minister Riza Tuna Turagay is also attending the summit co-hosted by Turkiye's Foreign Economic Relations Board (DEIK).

Riza in his speech urged Turkish investors to harness the potential of Uganda through business partnerships that create jobs and growth and benefit the local people.

Anite said the tax exemptions are part of a raft of incentives to be enjoyed by prospective Turkish investors. They include a 10-year tax holiday upon a minimum investment of $10 million.

Uganda has also offered over one square mile of land to Turkiye in the central city of Nakasongola to establish an industrial park.