Minister Okello Oryem rallies Indians to Invest in Uganda
The Minister of State for Foreign Affairs in charge of International Cooperation Okello Oryem has rallied Indian investors to come and invest in Uganda.
Oryem was speaking at a virtual opening ceremony of the Uganda –India Investment Roadshow in Jaipur, Rajasthan, the Road show will take place from September 16-18 September in Hotel Clarks Amer in the heart of the City.
He said Uganda and India enjoy warm bilateral relations, with several areas of historical cultural linkages, with extensive economic and trade interests which is estimated at $1.3 billion.
The three day Road Show’s sole purpose of the Road Show is to introduce and strategically place Uganda as the number one destination for investment, trade and tourism for the elites and business community in Jaipur and India at large.
India has consistently remained one of the top investors in Uganda with exports from India reaching 1.2 billion dollars. In addition, India has been offering capacity building programs to Institutions through its cultural Exchange Programme, Oryem says the two countries are hinged on mutual cooperation and respect.
He told the participants if they set up investments in Uganda, they will be able to reach a market of close to I billion people.
Oryem said Uganda is one of the fastest growing Countries in the region with fully liberalized Sectors of the Economy where foreign investors are allowed to own 100% shares of their companies and also repatriate their profits.
“Foreign investors are allowed to own 100% shares of their companies. Additionally, we have a liberalized foreign exchange regime, which enables investors to repatriate all their profits. In addition, so whatever area you invest in, you will find readily available markets in the country, the region, and elsewhere,” Oryem said.
He said Investments and investors operate in secure environment, and the safety of your investments are guaranteed, “I wish to add that Uganda has well educated and trained labour force, and generally, Ugandans are hardworking and friendly people. You are therefore welcome to invest in Uganda.”
Oryem further informed the participants that his ministry is prioritizing Commercial and Economic Diplomacy during the course of work.
“We believe this new focus will lead to socio economic transformation of our country, and deepen our relations with India…. there are several opportunities we invite you to take keen interest in and welcome your investments. I therefore emphasize the importance this engagement with the City of Jaipur and greater state of Rajasthan will play, and welcome the potential Investors into Uganda,” Oryem said.
Oryem thanked the organizers led by the High Commissioner, Grace Akello, for organizing the event.
Akello, invited all able businessmen and women with interests of expansion in Africa to consider exploring Uganda’s various business and investment opportunities.