“Uganda is open for business, and all sectors are on the table of investments. These sectors are Oil and gas, Tourism, Minerals, ICT Business, knowledge base, Water Resources, Industrialisation and Agriculture,” Amb. Julius Peter Moto.
London—13, September 2020: The over 30 years of peace and stability in Uganda has seen major investments sectors becoming successful, the country’s envoy to United Kingdom (London) and Ireland has said.
In his remarks at the 10th Uganda UK Convention held virtually on 12, September 2020, H.E Julius Peter Moto, said Uganda is open for business and all sectors are on the table of investments.
These sectors, he said, are: Oil and gas, Tourism, Minerals, ICT Business, knowledge base, Water Resources, Industrialisation and Agriculture.
“I thank Mr Willy Mutenza for organising the 10th Uganda UK Convention,” he added.
Due to Covid-19, H.E Moto said “we are unable to meet face to face as we used to. I look forward to the day when we shall be able to do so. However, technology has enabled the virtual meeting today. I also thank the panellists and all the listeners via various media who took time off their weekend schedules to log on and learn”.
The High Commissioner further told the participants that under the leadership of H.E President Museveni, government of Uganda recently launched the Third National Development Plan (NDPIII) that aims at implementing the Uganda Vision 2040.
Uganda Vision 2040 statement is “A Transformed Ugandan Society from a Peasant to a Modern and Prosperous Country within 30 years”.
“Ladies and Gentlemen, recall that Uganda Vision 2040 that was approved by Cabinet in 2007, was conceptualized around strengthening the fundamentals of the economy to harness the abundant opportunities around the country,” he adds.
He reminded the participants that the NDPIII has 5 objectives, namely:
• Enhancing value addition in Key Growth Opportunities (Agriculture, Tourism, Minerals, Oil and Gas and Knowledge).
• Strengthening the private sector to drive growth and create jobs,
• Consolidating and increasing the Stock and Quality of Productive Infrastructure,
• Increasing Productivity, Inclusiveness and Wellbeing of the Population,
• Strengthening the role of the public sector in the growth and development process.
“Therefore, this virtual meeting that shall address 3 focus sectors namely Real Estate, Agribusiness and Finance and Banking fits within the government of Uganda NDPIII objectives. These are critical sectors for economic growth and development.”
“Real estate caters for shelter which is a basic human need, as Agribusiness caters for food another basic human need. Financial institutions provide much needed services, including capital, which is a key enabler for all sectors.”
In the discussions today, he said, we should focus on how to tap into the vast opportunities in these key sectors, and especially how to improve access to financing and capital at affordable rates.
He emphasized that Uganda is open for business and all sectors are on the table of investments. These sectors are Oil and gas, Tourism, Minerals, ICT Business, knowledge base, Water Resources, Industrialisation and Agriculture.
According to Mr Moto, Uganda welcomes investors in these sectors, adding that this has been made possible by total peace and stability that Uganda has enjoyed for over 30 years, favourable investment laws & incentives, a large population in east, southern and central Africa averaging 300 million consumers, a highly trainable manpower base, and improvements of infrastructures that facilitate businesses.
“There are strategic landmarks and outputs that were achieved under the NDP1 & NDP II that need to be consolidated with lessons learned along the path of projects implementations, all aimed at making the ease of doing business in Uganda better,” he concluded.
The convention was attended by Her Royal Highness Sylvia Nagginda, The Nnabagereka of Buganda, Chairman of Uganda UK Convention, Mr Willy Mutenza, among other high profile people.