President Yoweri Museveni has reassured investors of the government's commitment to support them so that they help the country to steer its socio-economic development agenda. 

"The Ministry of Trade, Industry and Cooperatives should capture information of all these people so that we give them support because these are not very difficult to support," he said on Wednesday during the Presidential Investors Conference at Kololo Independence Grounds in Kampala. 

Some of the investors who attended the conference.

The engagement which attracted hundreds of big industrialists and those who operate cottage industries, enabled President Museveni to meet face-to-face with investors from across Uganda engaged in several sectors such as agriculture and value addition, manufacturing, services and ICT. Several cabinet ministers attended the conference

The President and the participants discussed pertinent issues aimed at boosting investments in the country. 

Numerous investors took to the podium to brief the President about their business. Occasionally Museveni asked questions about their operations. 

During the interaction, Museveni explained that the investment atmosphere in Uganda starts with raw materials. 

"The raw materials are in the following areas. Number one is commercial agriculture where Ugandans produce agricultural products that need processing including: coffee, fruits, cereals like maize, cassava, bananas, Irish potatoes, cotton, beef, milk and leather. 

The Minister of Finance, Planning and Economic Development, Matia Kasaija addressing investors during the conference.

This is one cluster of opportunities to add value to all those and there are sectors which are good examples. You take the sector of milk where I have been involved since the 1960s when I was a student leader mobilising the people in Ankole to get out of lack of money because they had land and cows, but no money and that is how we started that campaign. The milk sector started with zero; when we came into government in 1986, we were importing powdered milk for the towns from Denmark but Uganda now is producing 5 billion litres of milk a year and much of it is being processed," he lectured to the attentive audience some of whom were seen nodding in approval while others scribbled notes. 

The President reaffirmed that the investors, especially in the commercial agriculture sector have potential to develop and the government is willing to help them achieve their goal. 

"As long as they can prove to you as the Industry Ministry that they have the market where to sell these products, we can plan to support them. And even if we don't have enough money, we can support them in part because these people are ready to add value."

Privatization and investment state minister Evelyn Anite addressing the investors.

At the event, President Museveni further directed the Minister of State for Industry, David Bahati, to get details of investors in the milk, fruit and fisheries sectors whom he said should be supported

"When we are talking about investment, we are talking about linking the processors /manufacturers with the raw material producers. Now apart from commercial agriculture and the mining sector, then you go to the service sector like hotels, transport, and healthcare. Those also need a clear channel," he asserted. 

"Consider these products like milk as cash products. Currently, the milk whole chain is organised. For the fruits, we are also sure that even with one acre you can get sh60m each year. Therefore, that chain should be completely linked. The factory should be linked with farming so that the factory has got enough raw materials and the farmers have enough money," he stressed.

President Museveni also disclosed that the government in one year has injected USD230m in Uganda Development Bank (UDB) to help investors who need support. 

Finance ministry permanent secretary Ramathan Ggoobi addressing investors during the conference.

"The problem is not money, the problem is organisation and linkage," he said. 

"Once you handle the issue of money, then the other issue is infrastructure. When we finish infrastructure then we focus on the market. The Ugandan and East African Community market is there and that of Africa, even that outside Africa."

President Museveni on the other hand urged the investors to take advantage of the 25 Industrial parts across the country to set up factories, emphasising that "the industrial park land is available free of charge." 

The Minister of Finance, Planning and Economic Development, Matia Kasaija, started his remarks by thanking President Museveni for what he described as " shepherding Uganda amidst global challenges occasioned by Covid-19, war in Ukraine, floods in Uganda among other shocks that have strained the economic flow.

"Your steady leadership has kept the economy resilient with a low inflation rate and increasing investment flow in the areas of agriculture, value addition manufacturing, ICT, oil and gas, tourism and services," he said.

He also informed the President that the Presidential Investors Conference is aimed at discussing and finding solutions to the challenges of doing business in Uganda and the region. 

"Your Excellency, the government has undertaken significant reforms to streamline processes and reduce bureaucratic hurdles. Our goal is to make it easier for investors to set up and operate their businesses in Uganda," Kasaija said. 

"The Uganda Investment Authority (UIA) one-stop centre is a testimony to this and it serves as a single point of contact for all, ensuring a swift process for investors. The one-stop center is designed to facilitate a seamless experience for investors providing a range of services under one roof. Whether it is a company registration, tax permits for environmental impact assessment or work permits, our team at the one-stop centre is here to assist you at every step. This approach saves time and reduces the cost of doing business, thus making Uganda an attractive destination for investments," he explained.

The Minister added that apart from the one-stop centre at UIA, the Ministry of Trade has also approved a series of approaches to improve the business climate in Uganda like simplifying tax procedures, and enhancing infrastructure like electricity and investment in human capital development.