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Olive: Foreign Investors Shouldn’t Be Permitted To Repatriate All Their Profit.

Olive, The Fatboy Show Presenter on RX Radio, has disagreed with the State Minister of Foreign Affairs Henry Okello Oryem, saying that he is trying to entice investors by using a wrong approach.

Olive and Fatboy were commenting on the Minister’s remarks made on Wednesday last week.

Oryem, while meeting with German Investors at the Trade and Tourism Conference in Kampala among other things told investors that they were free to repatriate all their profits to Germany, assuring them that Uganda won't have any restrictions on profit percentage that they are to leave in the country.

He also said that the government is dedicated to providing them with a conducive environment and atmosphere for them to carry out their businesses.

Olive while commenting on this said, “The Minister is trying to entice investors but in the wrong way. Do you think it's okay for them to make all the profit in Uganda using our resources i.e. free land and tax holidays, and then take all that money back home?” she asked.

Fatboy, in response, said that as a government, this is a decision they are drawn to make since the investors create jobs and purchase/ rent assets, in addition to paying taxes after the tax holidays are depleted which all contribute to the economy.

Olive articulated that whereas investors create jobs, high positions are kept to themselves while Ugandans are given the peanut paying ones, adding that the government should copy examples from other countries that ensure that they benefit even after the investors exit.

“Other countries have clauses of a given percentage that investors are supposed to leave in the country off their profits. We should do that rather than letting them take everything,” she argued.

The Fatboy show is hosted by James Onen aka Fatboy, Olive, Sarah and Lesham every weekday from 6am to 10am on RX Radio.

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