Chief of Defence Forces Gen. Muhoozi Kainerugaba has announced that all foreign investments in Uganda will be subject to his personal approval, in a statement that could spark debate about the country’s investment policies and the role of government institutions in attracting international businesses.

Muhoozi made the declaration while outlining his position on how foreign investors should be handled, suggesting that Uganda needs a more selective approach when offering incentives to companies seeking to establish businesses in the country.

“All foreign investments in Uganda will be approved by me. Tax holidays will only be given to serious people,” Muhoozi stated.

He indicated that tax holidays and other investment incentives should not be handed out automatically to every foreign investor. Instead, he argued that such benefits should be reserved for investors considered capable of bringing meaningful economic value to Uganda.

The General also revealed that his proposed investment priorities would initially focus on high-end international brands seeking to establish themselves in Entebbe and Kampala. These two locations would be the starting point before any wider expansion of the strategy.

His remarks suggest an interest in attracting internationally recognised businesses, particularly those capable of investing in premium commercial establishments and strengthening Uganda’s position as an investment destination.

However, the statement did not explain how the proposed approval process would work, which government agencies would be involved or how his proposed role would relate to the existing investment approval framework. It also remains unclear whether the announcement represents an official government policy or his personal position.

The comments are likely to generate discussion among investors, business leaders and policymakers, particularly over the country’s investment climate, tax incentives and the importance of predictable regulatory procedures. Any changes to foreign investment approvals would need clarity on the applicable legal and institutional framework.