Uganda woos investors

KAMPALA, Uganda - Uganda’s trade minister and her counterpart the minister of finance used the global trade forum that met in Kampala last week to request members of the International Chamber Of Commerce and the World Chambers Federation to invest in the East African country.

The delegates were hosted by Uganda Chamber of Commerce and Industry and used the visit to hold key meetings with the leadership in Uganda with an aim of looking for investment opportunities.

The delegates represented National Chamber of Commerce & Industry from Kenya, Dubai, Liberia, Italy, Ethiopia and individual business personalities.

In her speech at the forum which was held at Kampala Serena Hotel, Maria Kiwanuka, Minister of Finance, Planning and Economic Development said government fully supports efforts to bolster trade in Uganda.

“If you are looking for a place to invest please consider Uganda. Government fully supports effort to bolster trade here in Uganda,” said Kiwanuka, herself an entrepreneur with numerous business establishments.

The president of International Chamber Of Commerce Peter Mihok said Uganda needs a strong global entrepreneurship participation to decrease the levels of poverty.

He said the country is well endowed with natural resources which need to be exploited to industrialize its economy.

He said manufacturing, agribusiness and infrastructure developments are some of the opportunities that international investors can take up in Uganda.

Amelia Kyambadde. Ministry of Trade, Industry and Cooperatives said with a population of 34 million people, the East African market of about 149 million people and its membership in the COMESA market with a market of 499m people, Uganda is a perfect destination for investment.

She elaborated that the country is succeeding in easing business licence process, previewing laws which in the past have been an impediment to business, removing non-tariff barriers and putting in place infrastructures like roads, railway to facilitate trade and access to market.

The President, Uganda National Chamber of Commerce (UNCCI) Olive Kigongo said the forum was to help create new business opportunities.

– Uganda’s trade minister and her counterpart the minister of finance used the global trade forum that met in Kampala last week to request members of the International Chamber Of Commerce and the World Chambers Federation to invest in the East African country.