UCEM Convenes Stakeholders for Crucial Tax Dialogue on Uganda’s Extractive Sector
KAMPALA, UGANDA – Stakeholders from government, industry, and civil society converged in Kampala today for a high-level Tax Dialogue focused on the fiscal frameworks governing Uganda’s burgeoning mining and oil and gas sectors. The event, hosted by the Uganda Chamber of Energy and Minerals (UCEM) at the Four Points by Sheraton, aims to dissect the country’s evolving fiscal environment and chart a path toward sustainable resource development.
In his opening remarks, UCEM CEO Humphrey Asiimwe set the tone for the deliberations, underscoring the delicate balance required to craft effective tax policies. He emphasized the necessity of establishing “predictable, transparent, and competitive tax regimes” that serve a dual purpose: attracting and retaining vital investment while simultaneously ensuring that the nation secures sustainable value from its natural resource endowment.
“Effective tax policies are critical,” Mr. Asiimwe stated, highlighting their role in balancing investor confidence, enabling enterprise participation, and generating national revenue. His comments come at a pivotal moment, as Uganda’s mining sector gains significant momentum and the oil and gas industry accelerates its march toward first oil production.
The dialogue serves as a platform for constructive engagement, bringing together policymakers, industry players, and financial experts. The core objective is to foster a collaborative environment to examine how current tax frameworks can be refined to better support sector growth, encourage the participation of local enterprises, and underpin long-term economic development.
As Uganda stands on the cusp of becoming a significant producer of both minerals and oil, the outcomes of such discussions are seen as crucial to ensuring that the extractives industry becomes a cornerstone of the national economy, delivering benefits for both investors and the Ugandan people. #UCEM
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