Uganda Prime Minister has admitted that the East African country is in serious retrospect of welcoming serious investors who can inject value to their economy. Dr Ruhakana Rugunda who is on a tour to India for the 12th Conclave on India Africa Project Partnership, has said Uganda wants business enterprises that will add value to their local products.
The Conclave on India Africa Project Partnership is an initiative started in 2005 to promote trade, business, investment and economic cooperation between the two regions.
Dr Rugunda who arrived in India on Tuesday March 7, will be a guest speaker at the gathering that brings together heads of state, top business people, investors and traders from across Africa and India. The forum, will run from 9th to 10th March 2017, in New Dehli.
According to statement issued by his office, the Prime Minister started the trip in Mumbai, the commercial capital of India, meeting several investors interested in establishing factories and businesses in Uganda.
Dr Rugunda said: “We are here to attract serious investors who can process and add value to our products to enable us create the much needed jobs for our people and boost our export earnings through producing for the export market.”
Rugunda added that attracting investments in priority sectors such as agriculture and agroprocessing, tourism, ICT, housing and medical services, is most sure way to boost the economy.
The conclave will be opened by the President of India, Pranab Mukherjee.
The forum has become a prestigious event for Indian and African governments and industry to meet and explore new avenues of partnerships. The annual gathering enables the Indian and African leadership to take stock of the progress of the partnership.
The Prime Minister’s delegation includes business people and manufacturers, private sector foundation, as well as officials from ministry of trade, investment and Uganda Investment Authority.
