It was an honor to have the Vice President of Uganda Hon.Edward Sekandi attend the 9th Uk-Uganda convention where he officially applauded and recognized the efforts of the Chairman Uganda Convention-UK Mr. Willy Mutenza, for the efforts put, in promoting people centered development strategies.
“The Uganda-UK Trade Convention 2019 (CUK2019), offers numerous opportunities for us to get together and map out the social/economic destiny of our country Uganda. The very important role Ugandan Diaspora plays is the reason we have convened for the 9th Ugandan-UK Trade and Investment Convention, 2019’’.
Continuing with his opening remarks, the Vice President reaffirmed that Development and growth of Nations is vested in Governments, their Citizenry and Foreign Investment. Natural wisdom, therefore, requires us to tap into the capabilities of Ugandans living in Uganda and those in the diaspora together with their foreign counterparts; to spur development, through investment.
Over the years, the Government of Uganda has ensured an enabling environment and indications point to a steady growth of our Economy. While Uganda’s GDP (factor cost) stood at 4.5% during the fiscal year 2002/2003 it is projected to grow at about 7% per annum in 2019/2020. In 1986, only 80 factories existed in Uganda compared to over 4900 that are in operation today.
He was glad to note that a cross section of experts, business leaders, professionals, representatives from prominent bodies based in Uganda, UK and elsewhere have graced this Convention. He commended the Organizers for adding an extra day and providing a dedicated session on Fintech, with the aim of increasing investment in Uganda from this rapidly growing sector which has a lot of potential given Uganda’s well-educated young population.
He was convinced that the 9th UK-Uganda convention will enable everyone to develop new business ideas, form business/personal networks and suggest best solutions to boost our Country’s development.
As Government, we have always cherished the contribution of the private sector and foreign investment in our Country. Government has therefore endeavored to ensure a stable, safe and conducive environment for business by instituting appropriate policies and putting in place physical infrastructure to ease the conduct of business in Uganda.
Uganda currently ranks among the top ten countries attracting Foreign Direct Investments (FDIs) in Africa. He noted that the main factors making Uganda a prime investment destination were: a predictable business environment, a fully liberalized economy, market accessibility, security for investment, first arrival privileges in form of tax exemptions, duty free import of plant machinery; and many other investment incentives including the improved infrastructure that is continually bringing down the cost of doing business.
Our country is not only located in the heart of Africa, but it has positioned itself well as a regional hub for business and management sourcing in the region. He invited everyone to be part of the fast-growing developments in the Country with special emphasis to foreign investors. This was well in line with the Convention theme “Unlocking Uganda’s Investment Potential”.
He wished and registered his appreciation to the People and Government of Britain for hosting well Ugandans living and working in the UK and concluded by wishing everybody gathered fruitful deliberations and interactions.
For God and my Country.