Uganda, Egypt discuss strategic investments market access

Uganda’s President Yoweri Kaguta Museveni has Tuesday January 16 29924, engaged in a fruitful dialogue today with a delegation of Egyptian investors at State House, Entebbe. Led by H.E Dato Arshad Mahmood, Chairman of the International Investment Consortium Inc., the meeting focused on exploring investment opportunities and robust market potential between the two nations.

President Museveni highlighted Uganda’s rich tapestry of raw materials, including diverse agricultural products, abundant electricity, and ample capital, emphasizing the country’s potential for a thriving agro-processing sector. He underscored the importance of entrepreneurship to leverage Uganda’s abundant resources and favorable weather conditions.

Enthusiastically discussing Uganda’s market opportunities, the President showcased a population of 46 million Ugandans, 300 million East Africans, and access to a potential 1.5 billion consumers across Africa through the Continental Free Trade Area (CFTA). He assured Egyptian investors of existing trade arrangements with major partners, including China, the European Union, and the United Arab Emirates.

President Museveni expressed Uganda’s commitment to facilitating business, citing the development of essential infrastructure like roads, electricity, and water. He encouraged investment proposals in sectors such as coffee roasting, textiles, fruit processing, dairy, and mining, highlighting abundant resources like marble and granite.

Sharing a success story, the President mentioned the return of the Indian community, previously expelled by former leader Idi Amin, who now significantly contributes to Uganda’s economy. He emphasized the need to learn from past mistakes, especially regarding private sector support and property rights.

In response, H.E Dato praised President Museveni’s leadership and affirmed the investors’ commitment to contributing to Uganda’s economic growth through substantial investments. The Minister of State for Investment and Privatization, Hon. Evelyn Anite, also attended the meeting, further underscoring the significance of the discussions.