Uganda is open to foreign investment and its investment policy is guided by the Investment Code of 1991 and the various general reforms which have taken place. The general reforms were aimed at creating a conducive and liberalised business environment for attraction of right investments. On the basis of ease of doing business, openness to trade, property rights and fiscal and monetary policy Uganda ranks among the freest economies in Africa.
The Investment Code 1991 is the guiding legal framework for attracting investments although some of its provisions have been made redundant by the liberalised business environment. Uganda Investment Authority therefore is in the process of drafting a law which will amend the Investment Code 1991 to incorporate provisions necessary for the creation liberalised business environment.
In addition other Ugandan laws, policies and regulations in the areas of investment are in the process of being revised with the aim of reducing administrative delays and cost of doing business.
It is also important to observe that the Constitution of the Republic of Uganda 1995 (as amended) recognises and gives protection to private property.