KAMPALA — President Yoweri Museveni has called upon European businesses to take advantage of Uganda’s profitability to invest in Agriculture and Value Addition.
Speaking at the 2nd Uganda- EU Business Forum that opened at the Speke Resort Munyonyo on Wednesday October 26, the President also assured the European Union businesses of the ready market in East Africa and Africa.
“Our assurance is that the market is ready and with the East African Integration, even bigger,” he said.
“I have been commissioning different factories, and Chinese and Indians are investing here, how come the Europeans with whom we share a similar language (English) are not doing the same? Uganda is Profitable, Peaceful and Pleasant and so ready for business,” he said, promising incentives to those interested in investing in Uganda.
“Uganda is welcoming you to invest and do business. You’ll be offered incentives like Ugandans. We believe in indirect taxation. All we want is for you to contribute to our GDP by locating your production and service provision here,” he added.
This year’s hybrid Business Forum – themed “Mobilizing quality investments and boosting trade between Uganda and the European Union” focuses on exploring a renewed commitment by both public and private sector stakeholders to building stronger Uganda – European Union business, investment, and trade ties as we emerge from unprecedented health and economic challenges.
The Two Day forum was organised by Sustainable Business For Uganda (SB4U), a fruit of a partnership between the EU, the Government of Uganda (GoU), and the Private Sector Foundation Uganda (PSFU), funded by the EU.
It provides a unique platform —bringing together Ugandan and European policymakers, public sector agencies, EU Member States embassies and consulates, private sector trade support institutions, business associations and Chambers of Commerce, captains of industries, financial and non-financial intermediaries, investors, development partners and donor agencies, academia and the civil society to network exchange experiences and explore win-win investment and trade opportunities.
The Head of European Delegation in Uganda, Jan Sadek lauded the EU-Uganda business forum, staying, “this kind of initiative is key to mobilise higher levels of private investments and to create new business opportunities in priority sectors in Uganda.
“We have a key role to play to enable European investors to have a deeper understanding of the business environment and investment climate prevailing in Uganda,” he said, adding,
“The message we are conveying to European companies and investors is: “Come to Uganda seize the opportunities offered by the Pearl of Africa and the region. We will all benefit from those
partnerships”.
The Minister of State for Investment and Privatization, Evelyn Anite appreciated President Museveni for creating a conducive environment that has enabled investors to set up big factories in Uganda. She said this has helped Uganda to develop economically.
She said that the country has stopped donating money to foreign countries because of Mr. Museveni’s able leadership.
UIA Board Chairman Morrison Rwakakamba told European Union investors that the return on investment for investing in Uganda is one of the highest in Africa.
“Our President, has diligently and tirelessly worked to ensure that in Uganda, businesses not only survive but thrive,” he said.
Rwakakamba said the forum also sought showcase of at least 50 bankable projects from Ugandan private sector and a dozen high-ticket public projects.
Some of the directors of the PSFU board who attended include Sarah Kagingo who represents professional services, Badru Ntege (ICT), Dan Kazibwe (Creatives), Dr Julian Omalla (Skilling) and Stephen Asiimwe, the CEO.
