A Uganda Parliamentary Committee on Trade, Industry and Cooperatives gave foreigners involved in small scale retail business a period of three to either invest in bigger projects or return to their countries.
Kampala city traders earlier petitioned parliament on the alarming influx of foreigners in retail business.
Legislators observed that whereas majority of foreigners, especially Chinese, come to Uganda as investors, majority of them have flocked informal small scale business, something which has reportedly affected Ugandan traders because they no longer make sales.
The committee chairperson, John Bosco Lubyayi noted that as MPs, their salaries are drawn from taxing traders and that it would be inconsiderate for Parliament to watch on as their businesses collapse.
“We made an impromptu visit to Kikuubo (a business corridor down town Kampala) and found out that the Chinese are financially torturing Ugandan traders because they sell merchandise at subsidized prices, making Ugandans stuck with theirs. This is very bad and they must become investors because that’s what their licenses read. In three months’ time, we need them out and we are going to compile a report and submit it to the President,” Lubyayi said.
Source: Daily Monitor