President Yoweri Museveni has called for collaboration among the members of the Non-Aligned Movement to improve trade and investment to spur development.
Museveni urged delegates attending the ongoing 19th Non-Aligned Movement summit to work hard towards harnessing trade and investment with an aim of transforming peoples’ livelihoods in their respective countries.
Delivering President Museveni’s message at the East African Trade and Investment Forum, Jesica Alupo the Vice President
“We must work hard and harness trade and investment with African countries and its close allies, the African continent is full of natural resources which offer the potential for prosperity, with the relevant technology and innovations these resources should be used to produce high valuable goods that African countries are currently importing from the Western countries and the far East”-Museveni.
He noted that exploitation of Africa’s resources and value addition would turn into increased trade volumes on the continent thus transforming the lives of the African people at a much faster pace.
Museveni says with support from African allies within the Non-Aligned Movement, this transformation is within the continents’ reach.
He asked the visiting business community to consider Uganda’s fast-growing market, the high return on investment among other cooperative advantages to invest in value addition in Uganda.
Alupo stresses that Uganda’s US$ 50 billion economy enjoys market linkages within the US$305 billion East African Community economy which is the fastest growing economic bloc on the African Continent. She says the potential investors in Uganda have access to ready markets.
The vice president emphasized that Uganda offers a good incentive regime and ensures free movement of capital with the unrestricted transfer of dividends.
She further interested the delegates into Uganda’s liberal economy with open trade policies that allows investment in all sectors.
Earlier on, Matia Kasaija, the minister for Finance assured the delegates that Uganda’s Economy is projected to grow at 6.4% next year making it a fertile ground for investment.
Kasaija pledged Uganda’s commitment to having a good business investment environment in addition to a steady economic growth.