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‘UIA needs a clear investment policy’

Published on December 07, 2016

On average 300 companies each year are licensed at UIA. Of these, about 40 per cent are out here in the country doing business. When you license somebody for investment; that is the first step. The next is to look for the money. But that person might have talked to his banker who agrees to pay. But persuading them to release the money can take a very long or short time depending on the project and the amount of money. Then once he is assured of the money, he must design the project. Some of the plans in this country take months to be approved. 

Then by law, you must do an environmental impact assessment. Now all these processes happen in the background. So if we say this year we licensed about 300, may be 200 of these are still working on that process and when they come it is difficult to link them on the year they were licenced. Read more. Source | Daily Monitor