Uganda is aiming to secure investment deals worth Sh3.036 trillion ($800 million) during the East African Trade and Investment Summit, held alongside the 19th Non-Aligned Movement (NAM) Summit. The business-focused event, scheduled from January 15 to 18, 2024, at the Kampala Serena Hotel, is themed “Unlocking East Africa’s Potential on the Global Stage.”
Adonia Ayebare, Uganda’s Permanent Representative to the United Nations and Deputy Chair of the organizing committee for the NAM and G77+China (Third South) summits, highlighted the collaboration with the East African Community to maximize the summit’s profitability. The East African Trade and Investment Summit aims to provide a platform for businesses within NAM member countries to exchange knowledge and explore investment opportunities in Uganda.
Ayebare emphasized that the summit has attracted regional business communities and chambers of commerce from NAM member states seeking new investment destinations. Each country participating in the summit will have a dedicated day to pitch their business ideas and engage with potential investors.
Steven Asiimwe, the Executive Director of the Private Sector Foundation of Uganda (PSFU), outlined the objectives of the summit, stating, “For Uganda, we want to position the country as the best investment destination and also tourism country in the region.” The event will facilitate joint ventures and other business opportunities, allowing Uganda’s private-sector players to showcase their products globally and network with international investors in manufacturing, tourism, ICT, and agriculture.
The summit is expected to have positive ripple effects on various sectors, including travel, business services, food industry, and entertainment, benefiting Ugandans indirectly. Heads of state are anticipated to attend the summit, which will conclude with President Yoweri Kaguta Museveni’s closing remarks.
