“If there is a place where you can easily make money, it is Uganda. The place is secure," says President Museveni in Cape Town.
INVESTMENT | 28TH WORLD ECONOMIC FORUM ON AFRICA
CAPE TOWN - President Yoweri Museveni has said Uganda is the safest place for any investor to inject their money, underlining that the East African nation, best known as the Pearl of Africa, offers immense business opportunities.
“If there is a place where you can easily make money, it is Uganda. The place is secure. That is why we host 1.4 million refugees from the neighbouring countries," he said.
The President made the remarks Wednesday evening at a dinner he jointly hosted with First Lady Janet, for the business community at Westin Hotel in Cape Town, South Africa, where the three-day 28th World Economic Forum on Africa is taking place.
The meeting is themed: Shaping Inclusive Growth and Shared Futures in the Fourth Industrial Revolution.
Generally, the forum, which kicked off on Wednesday, has brought together over 1,000 leaders from government, business and civil society, including ten heads of state or government.
Top of the agenda is new partnerships to create sustainable employment opportunities for Africa’s large and growing workforce.
At Wednesday's dinner, President Museveni highlighted three major aspects of doing business:
• production of goods and services
• market for those goods and services
• infrastructure to facilitate to link the producer to the market
The NRM government, said the President, put in place enabling infrastructure to facilitate production of goods and services, which, he added, has greatly lowered the cost of doing business.
Museveni said Uganda's population and hence market is growing, the country has an array of available and affordable raw materials, affordable and now surplus electricity, functional Internet services and other amenities such as piped water.
He urged investors to seek opportunities in agro-processing, infrastructure, mineral extraction and tourism among other openings.
Addressing the gathering, First Lady and education minister Janet said Uganda is focusing on skilling the youth to enable them compete favourably in the job market.
(Source: State House)
With elections taking place in more than 20 African countries this year, the continent is facing a new era, the meeting's organisers say.
Significant political and economic progress has been made, but the continent continues to face challenges.
The forum in South Africa is focussing on how to scale up the transformation of regional architecture related to smart institutions, investment, integration, industry and innovation.
It is themed: Shaping Inclusive Growth and Shared Futures in the Fourth Industrial Revolution.
The meeting is addressing the African Union’s Agenda 2063 regional strategic priorities under four programme tracks, which are:
• Innovation: Readiness for the Fourth Industrial Revolution
• Cooperation: Sustainable Development & Environmental Stewardship
• Growth: Digitalization & Competitive Industries
• Stability: Leadership & Institutional Governance
The discussions are focussing on key industries and build on the launch of the first African Affiliate Centre for the Fourth Industrial Revolution in South Africa, the organisers add.
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