Business

Museveni Rallies European Investors to Invest in Uganda

President Yoweri Museveni has said Uganda is still a good investment destination because of its conducive investment environment.

The president in a written speech read by the Prime Minister Ruhakana Rugunda at the official opening of the first Uganda-European Union business Forum at Speke Resort Munyonyo on Monday urged investors from European Union states to invest in specific areas like agricultural irrigation.

“Uganda in partnership with development Partners including the European Union has made significant strides in laying a firm foundation for investments, industrialization and international trade. The road network has been greatly improved and one can travel from one border to another on tarmac only.  We are also working on rehabilitating the railway and advancing preparations for construction of the Standard Gauge Railway,” he stated.

He added, “Hydro-Electric Power generation has increased significantly, currently close to  1,200MW. Government and in some cases the private sector, has also set up and continues to set up Industrial Parks. On the regulatory side, we have been steadfast in easing the process of investing and doing business in Uganda. A One Stop Investment  Centre has been set up at the Uganda Investment Authority to ease the investment process while several One Stop Border Posts have also been established to facilitate international trade”.

The 2-day Forum that is being attended by over 1500 delegates from EU states, government officials, members of the Ugandan private sector and development partners is organized as a joint effort between the European Union Government of Uganda represented by the Ministry of Trade, Industry and Cooperatives and the Private Sector Foundation Uganda (PSFU). It is being held in the context of the Africa-Europe Alliance for Sustainable Investments and Jobs.

It is intended to foster collaboration between the public and private actors and partnerships between Ugandan and European companies.

In his remarks, the ambassador of EU to Uganda Atilio Pacific noted that despite the Corona Virus global scare that stopped some delegates from coming, a big number of delegates made it because of the urgency and the strong relationship between Uganda and EU.

“I want to specifically thank the Ministry of Health for putting special arrangements and allowing the conference to go forward despite the corona virus scare,” he said

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The Chairman PSFU, Elly Karuhanga noted that the forum will help the private sector to network and connect with their counterparts from the EU hence enhancing their chances of making investment partnership.

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