President Yoweri Museveni has issued a stern warning to government tax agencies, advising against imposing direct taxes on large-scale manufacturers, citing potential adverse effects on investment in the sector.
Speaking during a visit to Hariss International, renowned producers of Riham products, in Kawempe, Museveni emphasized the importance of nurturing and supporting manufacturing in Uganda, considering it a pivotal element for economic development.
Museveni’s visit to the factory allowed him to commend Yasser Ahmed, the Chairman of Hariss International Limited, for his significant contributions to Uganda’s economy.
Established in 2005, the company has evolved, expanding its product portfolio to include more than 50 items, ranging from carbonated soft drinks, natural mineral water, and fruit juices to malt and energy drinks, biscuits, and sweets.
In his address, President Museveni emphasized the tremendous agricultural potential in Uganda, noting the country’s suitability for dairy production and other agricultural activities.
He shared his vision of Uganda becoming a leading global producer of milk and milk products. Museveni underlined that diversifying agricultural products and promoting fruit cultivation were essential to unlock Uganda’s economic potential.
Yasser’s investment in fruit processing was hailed as a significant contribution to linking fruit producers with the domestic market.
President Museveni encouraged more investors to follow this path and acknowledged the hardworking nature of the Lebanese community in Uganda.
Yasser Ahmed expressed his gratitude to the President for his continued support to investors.
He highlighted the substantial investments made in expanding the company’s operations, with an impressive increase in the number of employees, both directly and indirectly, thereby contributing to Uganda’s economic growth.