President Yoweri Museveni has invited investors to consider Uganda as the ultimate investment destination, emphasizing the country’s resource richness, significant export opportunities, and potential in various sectors. Speaking at the East African Trade and Investment Forum during the 19th Non-Aligned Movement (NAM) Summit, the President urged investors to explore Uganda’s oil and gas sector, with commercial production set to commence in 2025.
Museveni highlighted the diverse resources in Uganda, including Beryl, Chromite, Lead, Lithium, Silver, Zinc, Kyanite, Feldspar, Diatomite, Manganese, Diamond, Uranium, Iron Ore, Vermiculite, Limestone, Marble, Gold, Graphite, and Aluminous clay rich in Rare Earth Elements (REE). He encouraged investments in these sectors for the country’s economic growth.
The President declared Uganda the best investment destination, emphasizing its $50 billion economy and strategic location. He highlighted market linkages within the East African Community (EAC), the fastest-growing and most diversified economic bloc on the African continent. Uganda provides access to regional markets, including EAC, Common Market of East and Southern Africa (COMESA), and the Africa Continental Free Trade Area (AfCFTA), with over 55 member states.
Museveni underscored Uganda’s economic stability, averaging about 6.2% growth over the past 37 years. He mentioned low inflation (2.6%), a stable currency, and an optimistic economic outlook. The President outlined Uganda’s liberal economy with open trade policies, a liberal investment regime, and all sectors open for investment.
He detailed Uganda’s incentives regime, offering free land, serviced industrial parks, manufacturing zones, affordable electricity, good transport networks, tax holidays, and other financial incentives. Uganda, according to Museveni, has gained competitiveness in tradeable goods, including animal products, agricultural products, and industrial goods.
The three-day East African Trade and Investment Forum aims to attract at least $1 billion worth of investments across various sectors, including energy, ICT, agriculture, trade, infrastructure, mining, industrialization, tourism, and oil and gas.
