By Tegike Ashirafu
Uganda government has kickstarted a three-day roadshow in Rajasthan a business community in India to attract investments and trigger large-scale industrialisation in the country.
The event dubbed; Road show on Investment and Business Opportunities in Uganda organized by Uganda’s High Commission in India New Delhi will take place from 16th to 18th September 2021 in Hotel Clarks Amer, New Delhi India’s capital aims at improving Investment, Trade, Tourism, Culture with a purpose of introduce and strategically place Uganda as the number one destination for investment, trade and tourism for the elites and business community in Rajasthan,Jaipur and India at large.
The Foreign Affair Minister for the Republic of Uganda Hon: Okello Oryem on his opening remarks 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
According to Minister, India has consistently remained one of the top investors in Uganda with exports from India reaching $1.3 billion. In addition, India has been offering capacity building programs to Institutions through its cultural Exchange Programme.
Oryem noted Uganda is prioritizing Commercial and Economic Diplomacy in our work today and new focus will lead to socio economic transformation of the country and deepen Uganda’s relations with India.
“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,” Hon. Oryem noted.
The Minister encouraged that Uganda is one of the fastest growing Countries in the region, all sectors of the eeconomy are fully liberalized for investment, and foreign investors are allowed to own 100% shares of their companies which enables investors to repatriate all their profits.
“So whatever area you invest in, you will find readily available markets in the country, the region, and elsewhere”. Oryem emphasized.
According to The Times of India, an online paper in India, Digvijay Dhabriya, chairman of PHD Chamber of Commerce-Rajasthan, which is organizing the roadshow, said that at present the total exports from India to Uganda is $800 million as against meagre import of $47 million resulting in a very adverse balance of trade for which both the countries are committed to improve
Dhabriya said that senior ministers from the government of Uganda and India will be interacting with the business community in Rajasthan to give a fillip to the bilateral investment and trade.
The Foreign Affair Minister Hon. Okello Oryem together with H.E. Grace Akello Uganda’s High Commissioner to India and Mr. Yaduvendra Mathur, Former Chairman and Managing Director, Exim Bank & Special Secretary, Niti Aayog, Government of India New Delhi jointly officiated at the Opening of the Uganda –India Investment Roadshow in Jaipur, Rajasthan.
The Uganda Road show in Jaipur will feature intense discourse on business and investments opportunities in the different sectors of Uganda. The sectors to be discussed include Oil and gas, Agro processing, Mining, Construction, Tourism, Information Technology, Education, Film and Health.
The highlights of the event will be a cultural extravaganza on the last day of the Road show. The extravaganza will feature performances from different parts of Uganda by Ugandan students in India. Guests will also be treated to Ugandan cultural and contemporary delicacies like the famous ‘Rolex, Matooke, omugoyo, malakwang, katogo and so much more.
Uganda’s relation with India is over a century old. Uganda worked with India long before the independence times. The goodwill between the people of both countries is already fertile grounds for conducting business.
The two leaders have made several exchanges of visits, with the last being the visit of Prime Minister Narendra Modi to Uganda’s counterpart Yoweri Museveni in 2018.
The Mission therefore invites all able businessmen and women with interests of expansion in Africa to consider exploring Uganda’s various business and investment opportunities.